Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.25.

A number of equities research analysts have commented on AKYA shares. Craig Hallum initiated coverage on Akoya Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $7.50 target price on the stock. Canaccord Genuity Group cut their target price on shares of Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. BTIG Research decreased their price target on shares of Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th. Finally, Morgan Stanley cut their price objective on shares of Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday, June 3rd.

Akoya Biosciences Trading Up 2.7 %

Shares of AKYA stock opened at $2.31 on Monday. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $7.59. The company has a quick ratio of 2.38, a current ratio of 3.07 and a debt-to-equity ratio of 2.33. The business has a fifty day simple moving average of $2.50 and a 200-day simple moving average of $4.06. The stock has a market cap of $114.08 million, a P/E ratio of -1.57 and a beta of 1.34.

Akoya Biosciences (NASDAQ:AKYA) last announced its earnings results on Monday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $18.35 million for the quarter, compared to analyst estimates of $24.13 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. On average, analysts forecast that Akoya Biosciences will post -0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akoya Biosciences

A number of large investors have recently bought and sold shares of AKYA. Nisa Investment Advisors LLC increased its holdings in shares of Akoya Biosciences by 10,169.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after buying an additional 6,000 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Akoya Biosciences by 291.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after acquiring an additional 7,746 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Akoya Biosciences by 176.0% in the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after purchasing an additional 73,737 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in shares of Akoya Biosciences by 5.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Peddock Capital Advisors LLC grew its holdings in shares of Akoya Biosciences by 546.2% during the 4th quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock worth $1,419,000 after purchasing an additional 245,728 shares during the period. Hedge funds and other institutional investors 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.