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

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.21.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group cut their price target on Akoya Biosciences from $3.50 to $1.80 and set a “hold” rating for the company in a research note on Tuesday, April 29th. Stephens reiterated an “equal weight” rating and issued a $1.80 price target (down from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Finally, Piper Sandler cut their price objective on Akoya Biosciences from $2.40 to $1.65 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Akoya Biosciences Trading Down 1.8 %

Shares of AKYA opened at $1.12 on Friday. Akoya Biosciences has a twelve month low of $1.01 and a twelve month high of $4.42. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $55.86 million, a P/E ratio of -0.95 and a beta of 1.34. The firm’s 50-day moving average is $1.33 and its two-hundred day moving average is $2.10.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm 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 predict that Akoya Biosciences will post -0.96 earnings per share for the current fiscal year.

Institutional Trading of Akoya Biosciences

Hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Akoya Biosciences during the 4th quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter valued at $1,180,000. Intech Investment Management LLC acquired a new stake in Akoya Biosciences during the fourth quarter worth about $27,000. Finally, JPMorgan Chase & Co. raised its holdings in Akoya Biosciences by 295.4% in the fourth quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock valued at $111,000 after buying an additional 36,093 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.