Akoya Biosciences (NASDAQ:AKYA) Given Equal Weight Rating at Stephens

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Stephens in a report issued on Tuesday,Benzinga reports. They currently have a $1.80 target price on the stock, down from their prior target price of $3.50. Stephens’ price objective points to a potential upside of 11.80% from the company’s previous close.

AKYA has been the topic of several other research reports. Canaccord Genuity Group lowered shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.62.

Akoya Biosciences Stock Down 3.6 %

Shares of AKYA stock traded down $0.06 during trading on Tuesday, hitting $1.61. 21,880 shares of the company were exchanged, compared to its average volume of 347,053. The firm has a market capitalization of $80.20 million, a price-to-earnings ratio of -1.37 and a beta of 1.32. 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 business’s 50-day simple moving average is $2.21 and its 200 day simple moving average is $2.50. Akoya Biosciences has a twelve month low of $1.39 and a twelve month high of $5.00.

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

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paragon Associates & Paragon Associates II Joint Venture increased its position in shares of Akoya Biosciences by 1.4% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock valued at $1,834,000 after purchasing an additional 11,000 shares during the period. SVB Wealth LLC acquired a new stake in Akoya Biosciences during the fourth quarter worth $1,180,000. State Street Corp increased its holdings in Akoya Biosciences by 4.2% in the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares during the period. Northern Trust Corp raised its stake in shares of Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after buying an additional 39,799 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Akoya Biosciences by 404.1% during the 4th quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock worth $125,000 after acquiring an additional 43,920 shares during the period. 79.42% of the stock is currently owned by institutional investors.

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.