Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.56.

A number of analysts recently issued reports on the company. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler dropped their price objective on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Morgan Stanley downgraded Akoya Biosciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Craig Hallum lowered their target price on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th.

Akoya Biosciences Trading Down 3.5 %

NASDAQ:AKYA opened at $2.72 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.73 and a debt-to-equity ratio of 3.43. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The company has a market cap of $134.64 million, a P/E ratio of -1.85 and a beta of 1.35. The business has a 50 day moving average price of $2.47 and a two-hundred day moving average price of $3.01.

Akoya Biosciences (NASDAQ:AKYA) last released its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.27). Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. The business had revenue of $23.16 million during the quarter, compared to the consensus estimate of $23.61 million. During the same quarter last year, the firm earned ($0.51) earnings per share. As a group, analysts expect that Akoya Biosciences will post -0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC bought a new stake in shares of Akoya Biosciences during the first quarter worth approximately $2,724,000. CIBC Asset Management Inc boosted its stake 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 purchasing an additional 73,737 shares during the period. Vanguard Group Inc. grew its holdings in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of 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 buying an additional 149,164 shares in the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings in shares of Akoya Biosciences by 64.3% during the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after buying an additional 7,340 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.