Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Consensus Rating of “Hold” by Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.57.

Several research firms have recently commented on AKYA. Canaccord Genuity Group lowered their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a report on Friday. Piper Sandler lowered their price objective on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and cut their target price for the company from $7.00 to $5.00 in a research note on Friday. JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, BTIG Research downgraded shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $2.41 on Friday. The company has a market cap of $119.29 million, a PE ratio of -2.04 and a beta of 1.34. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31. The firm has a 50-day simple moving average of $2.91 and a 200 day simple moving average of $2.64. The company has a quick ratio of 1.98, a current ratio of 2.73 and a debt-to-equity ratio of 3.43.

Institutional Investors Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of AKYA. Regal Investment Advisors LLC grew its position in Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after buying an additional 7,340 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares during the period. State Street Corp boosted 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 acquiring an additional 18,361 shares in the last quarter. Barclays PLC increased its stake in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares in the last quarter. 79.42% of the stock is currently owned by institutional investors.

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.