Akoya Biosciences (NASDAQ:AKYA) Downgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Akoya Biosciences (NASDAQ:AKYA) from an overweight rating to a neutral rating in a report released on Tuesday morning, MarketBeat.com reports.

Other equities analysts have also recently issued reports about the stock. BTIG Research cut their target price on shares of Akoya Biosciences from $9.00 to $6.00 and set a buy rating for the company in a research note on Tuesday, May 14th. Craig Hallum started coverage on Akoya Biosciences in a report on Friday, June 21st. They set a buy rating and a $7.50 price objective on the stock. Morgan Stanley cut their target price on shares of Akoya Biosciences from $8.00 to $4.00 and set an overweight rating for the company in a report on Monday, June 3rd. Finally, Canaccord Genuity Group decreased their price target on shares of Akoya Biosciences from $10.00 to $6.00 and set a buy rating on the stock in a research note on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $7.06.

Akoya Biosciences Price Performance

AKYA stock traded up $0.11 during trading on Tuesday, reaching $2.20. The company’s stock had a trading volume of 231,219 shares, compared to its average volume of 260,934. 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 company’s fifty day moving average is $2.26 and its 200-day moving average is $3.70. The company has a market capitalization of $108.65 million, a P/E ratio of -1.50 and a beta of 1.34. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.36.

Akoya Biosciences (NASDAQ:AKYA) last released its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.27). Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. The firm had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. During the same quarter last year, the business posted ($0.51) earnings per share. On average, research analysts expect that Akoya Biosciences will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akoya Biosciences

Institutional investors have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC bought a new position in shares of Akoya Biosciences during the first quarter valued at approximately $2,724,000. CIBC Asset Management Inc grew its position in Akoya Biosciences by 176.0% in the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock valued at $564,000 after acquiring an additional 73,737 shares during the last quarter. Peddock Capital Advisors LLC increased its stake in Akoya Biosciences by 546.2% in the fourth 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. Tower Research Capital LLC TRC increased its stake in Akoya Biosciences by 291.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after purchasing an additional 7,746 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Akoya Biosciences by 10,169.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after purchasing an additional 6,000 shares during the last quarter. 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.