Aktis Oncology (NASDAQ:AKTS) Coverage Initiated by Analysts at Wedbush

Equities research analysts at Wedbush initiated coverage on shares of Aktis Oncology (NASDAQ:AKTS) in a research report issued on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $35.00 price target on the technology company’s stock. Wedbush’s price target points to a potential upside of 40.00% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen lowered Aktis Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. HC Wainwright raised their price target on Aktis Oncology from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Raymond James Financial started coverage on shares of Aktis Oncology in a report on Monday, June 15th. They issued a “strong-buy” rating and a $40.00 price target on the stock. William Blair began coverage on shares of Aktis Oncology in a research report on Wednesday, April 29th. They set an “outperform” rating on the stock. Finally, BMO Capital Markets began coverage on shares of Aktis Oncology in a research report on Tuesday. They issued an “outperform” rating and a $37.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Aktis Oncology presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Aktis Oncology Trading Up 1.1%

Aktis Oncology stock opened at $25.00 on Wednesday. The firm has a market cap of $1.33 billion and a P/E ratio of -30.49. Aktis Oncology has a 1-year low of $14.72 and a 1-year high of $34.19. The firm has a 50-day moving average of $25.23 and a 200-day moving average of $21.21.

Aktis Oncology (NASDAQ:AKTS) last announced its quarterly earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $3.38 million during the quarter, compared to the consensus estimate of $2.70 million. Research analysts forecast that Aktis Oncology will post -1.72 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ken Herrmann sold 4,856 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $24.56, for a total value of $119,263.36. Following the completion of the transaction, the director owned 3,506 shares of the company’s stock, valued at approximately $86,107.36. This represents a 58.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Aktis Oncology

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Aktis Oncology by 7.9% during the second quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock valued at $73,431,000 after buying an additional 166,231 shares during the period. Jupiter Topco LLC bought a new position in shares of Aktis Oncology during the second quarter valued at approximately $42,359,000. Bank of America Corp DE boosted its position in shares of Aktis Oncology by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 72,835 shares of the technology company’s stock worth $2,347,000 after purchasing an additional 2,909 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Aktis Oncology by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company’s stock worth $1,587,000 after buying an additional 6,349 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Aktis Oncology by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company’s stock worth $1,548,000 after buying an additional 1,051 shares during the last quarter. Institutional investors own 28.84% of the company’s stock.

Aktis Oncology Company Profile

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.