Akoya Biosciences (NASDAQ:AKYA) Downgraded by BTIG Research

BTIG Research lowered shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports.

Several other equities analysts also recently issued reports on AKYA. Morgan Stanley decreased their price objective on shares of Akoya Biosciences from $8.00 to $4.00 and set an overweight rating on the stock in a report on Monday, June 3rd. Craig Hallum began coverage on Akoya Biosciences in a report on Friday, June 21st. They issued a buy rating and a $7.50 price objective on the stock. Canaccord Genuity Group cut their price objective on Akoya Biosciences from $10.00 to $6.00 and set a buy rating for the company in a research note on Tuesday, May 14th. Finally, JPMorgan Chase & Co. lowered Akoya Biosciences from an overweight rating to a neutral rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Akoya Biosciences has an average rating of Moderate Buy and an average target price of $7.06.

Akoya Biosciences Price Performance

Shares of Akoya Biosciences stock opened at $2.09 on Tuesday. The firm has a market cap of $103.22 million, a PE ratio of -1.42 and a beta of 1.34. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.55. 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 50-day moving average price of $2.25 and a 200 day moving average price of $3.72.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.27) EPS for the quarter, meeting analysts’ consensus estimates of ($0.27). Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. The business had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. During the same period in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts predict that Akoya Biosciences will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Akoya Biosciences

Several large investors have recently added to or reduced their stakes in AKYA. Bank of New York Mellon Corp raised its holdings in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Akoya Biosciences during the first quarter worth about $2,724,000. Vanguard Group Inc. increased its position in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in Akoya Biosciences by 28.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock worth $3,293,000 after purchasing an additional 149,164 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Akoya Biosciences by 291.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock valued at $51,000 after purchasing an additional 7,746 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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.