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

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.43.

A number of equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $3.00 target price (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $7.00 to $5.00 in a report on Friday, November 15th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AKYA. GSA Capital Partners LLP raised its stake in shares of Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the period. Barclays PLC raised its stake in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the period. State Street Corp raised its stake in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after buying an additional 18,361 shares during the period. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences during the 4th quarter worth approximately $28,000. Finally, Bank of New York Mellon Corp raised its stake 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 buying an additional 9,429 shares during the period. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Price Performance

Shares of NASDAQ AKYA opened at $2.96 on Friday. The business’s 50 day moving average price is $2.50 and its 200 day moving average price is $2.60. The firm has a market cap of $146.73 million, a P/E ratio of -2.51 and a beta of 1.18. Akoya Biosciences has a 52 week low of $1.88 and a 52 week high of $6.31. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

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.