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

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,600,000 shares, a drop of 20.8% from the October 15th total of 2,020,000 shares. Based on an average trading volume of 132,000 shares, the short-interest ratio is currently 12.1 days. Currently, 7.8% of the shares of the company are sold short.

Akoya Biosciences Stock Down 23.0 %

Shares of AKYA opened at $2.41 on Friday. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The firm has a market cap of $119.29 million, a P/E ratio of -2.04 and a beta of 1.34. The company’s 50-day moving average price is $2.91 and its 200 day moving average price is $2.65. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Piper Sandler dropped their target price on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $7.00 to $5.00 in a report on Friday. Finally, Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.57.

Institutional Trading of Akoya Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in shares of Akoya Biosciences in the first quarter valued at approximately $2,724,000. State Street Corp grew its holdings in shares of Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after purchasing an additional 18,361 shares in the last quarter. GSA Capital Partners LLP increased its stake in Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares in the last quarter. 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.