Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 3,250,000 shares, an increase of 60.1% from the January 31st total of 2,030,000 shares. Based on an average trading volume of 666,100 shares, the days-to-cover ratio is currently 4.9 days. Approximately 15.8% of the company’s shares are short sold.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AKYA. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Craig Hallum cut shares of Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price target for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.43.

Akoya Biosciences Stock Down 4.9 %

Shares of NASDAQ AKYA opened at $1.55 on Tuesday. Akoya Biosciences has a 52-week low of $1.55 and a 52-week high of $6.31. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The stock has a market cap of $76.84 million, a P/E ratio of -1.31 and a beta of 1.23. The firm has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.59.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Intech Investment Management LLC acquired a new stake in Akoya Biosciences during the 4th quarter worth $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences during the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences during the 4th quarter valued at about $31,000. Bank of America Corp DE lifted its holdings in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after purchasing an additional 30,095 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

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.