Analysts Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Price Target at $3.98

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $3.90.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AKYA. SG Americas Securities LLC acquired a new position in Akoya Biosciences during the 4th quarter valued at approximately $28,000. Barclays PLC increased its stake in Akoya Biosciences by 320.9% during 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 in the last quarter. State Street Corp increased its stake in Akoya Biosciences by 4.2% during the 3rd 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 valued at $845,000 after purchasing an additional 144,903 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in Akoya Biosciences during the 4th quarter valued at approximately $1,180,000. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Price Performance

Akoya Biosciences stock opened at $1.68 on Friday. The stock has a market cap of $83.28 million, a price-to-earnings ratio of -1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a 1 year low of $1.39 and a 1 year high of $5.16. The firm has a 50-day moving average of $2.28 and a two-hundred day moving average of $2.51.

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

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.