Akoya Biosciences (NASDAQ:AKYA) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Akoya Biosciences (NASDAQ:AKYA) issued its quarterly earnings data on Monday. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.03), Zacks reports. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. The business had revenue of $16.64 million during the quarter, compared to the consensus estimate of $20.19 million.

Akoya Biosciences Trading Down 12.5%

Shares of Akoya Biosciences stock opened at $1.02 on Wednesday. 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 $0.98 and a 1-year high of $3.42. The company’s fifty day simple moving average is $1.31 and its 200-day simple moving average is $2.07. The stock has a market capitalization of $50.62 million, a PE ratio of -0.86 and a beta of 1.34.

Analysts Set New Price Targets

Several brokerages have commented on AKYA. Piper Sandler cut their price target on shares of Akoya Biosciences from $2.40 to $1.65 and set a “neutral” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group lowered their price objective on shares of Akoya Biosciences from $3.50 to $1.80 and set a “hold” rating on the stock in a research report on Tuesday, April 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Akoya Biosciences currently has an average rating of “Hold” and a consensus target price of $3.21.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Akoya Biosciences stock. Invesco Ltd. bought a new position in Akoya Biosciences, Inc. (NASDAQ:AKYA) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 45,141 shares of the company’s stock, valued at approximately $63,000. Invesco Ltd. owned about 0.09% of Akoya Biosciences as of its most recent SEC filing. 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.