Akoya Biosciences (NASDAQ:AKYA) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Akoya Biosciences (NASDAQ:AKYA) issued its quarterly earnings data on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02), Zacks reports. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The business had revenue of $21.34 million during the quarter, compared to analyst estimates of $21.34 million.

Akoya Biosciences Price Performance

Shares of AKYA opened at $1.56 on Tuesday. Akoya Biosciences has a 1 year low of $1.43 and a 1 year high of $5.16. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The company has a market capitalization of $77.33 million, a price-to-earnings ratio of -1.32 and a beta of 1.32. The business has a 50-day moving average of $2.32 and a 200-day moving average of $2.53.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research note on Wednesday, March 5th. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.98.

Hedge Funds Weigh In On Akoya Biosciences

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE lifted its stake in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,092 shares of the company’s stock after acquiring an additional 8,258 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.