Piper Sandler Reiterates “Overweight” Rating for Akoya Biosciences (NASDAQ:AKYA)

Piper Sandler restated their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a research note released on Tuesday morning,Benzinga reports. They currently have a $3.00 target price on the stock, down from their previous target price of $4.00.

Other research analysts also recently issued reports about the stock. Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. Canaccord Genuity Group decreased their target price on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, November 15th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $7.00 to $5.00 in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.43.

Akoya Biosciences Price Performance

Shares of Akoya Biosciences stock opened at $2.16 on Tuesday. The business’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.60. The firm has a market capitalization of $107.06 million, a PE ratio of -1.83 and a beta of 1.34. Akoya Biosciences has a 12 month low of $1.88 and a 12 month high of $6.31. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

Institutional Trading of Akoya Biosciences

A number of institutional investors have recently modified their holdings of the company. Regal Investment Advisors LLC increased its holdings in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares during the period. Barclays PLC increased its stake in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after acquiring an additional 9,429 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after acquiring an additional 144,903 shares during the period. Finally, State Street Corp boosted its holdings in Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after acquiring an additional 18,361 shares in the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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.