Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.56.

A number of research analysts have commented on AKYA shares. Craig Hallum cut their target price on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Piper Sandler lowered their target price on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th.

Check Out Our Latest Analysis on AKYA

Akoya Biosciences Stock Up 2.6 %

Shares of NASDAQ AKYA opened at $3.14 on Wednesday. Akoya Biosciences has a 52-week low of $1.88 and a 52-week high of $6.31. The firm has a market capitalization of $155.07 million, a price-to-earnings ratio of -2.14 and a beta of 1.36. The stock has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.78. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73.

Akoya Biosciences (NASDAQ:AKYA – Get Free Report) last issued its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, hitting the consensus estimate of ($0.27). The business had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. During the same period in the prior year, the business earned ($0.51) EPS. Sell-side analysts expect that Akoya Biosciences will post -0.98 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

A number of institutional investors have recently made changes to their positions in AKYA. Regal Investment Advisors LLC increased its position in Akoya Biosciences by 64.3% during 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 grew its stake in shares of Akoya Biosciences by 16.2% during the second 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 last quarter. Silvercrest Asset Management Group LLC acquired a new position in shares of Akoya Biosciences during the first quarter valued at about $2,724,000. Finally, Vanguard Group Inc. raised its position 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 purchasing an additional 46,131 shares during the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

(Get Free Report

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.

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