Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $3.98 Average Price Target from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received a consensus rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.90.

Several analysts have commented on the stock. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price for the company. in a research report on Wednesday, March 5th. Stephens reaffirmed an “overweight” rating and set a $3.50 price objective on shares of Akoya Biosciences in a research note on Tuesday. Finally, Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th.

Akoya Biosciences Trading Up 1.2 %

Shares of AKYA opened at $1.70 on Friday. The stock’s fifty day simple moving average is $2.24 and its 200-day simple moving average is $2.50. The firm has a market capitalization of $84.69 million, a PE ratio of -1.44 and a beta of 1.32. Akoya Biosciences has a 12-month low of $1.39 and a 12-month high of $5.08. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

Akoya Biosciences (NASDAQ:AKYA) last released its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. As a group, research analysts predict that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

Large investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new position in Akoya Biosciences during the fourth quarter worth about $1,180,000. GSA Capital Partners LLP lifted its holdings in shares of Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Akoya Biosciences by 404.1% during the 4th quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after purchasing an additional 43,920 shares in the last quarter. Northern Trust Corp grew its position in shares of Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after purchasing an additional 39,799 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Akoya Biosciences by 295.4% during the 4th quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock worth $111,000 after purchasing an additional 36,093 shares in the last quarter. Institutional investors own 79.42% of the company’s stock.

About Akoya Biosciences

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.