Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $3.98

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given an average rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.90.

Several analysts have recently commented on the stock. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Stephens restated an “overweight” rating and set a $3.50 price target on shares of Akoya Biosciences in a research report on Tuesday. Finally, Piper Sandler lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target on the stock. in a research report on Wednesday, March 5th.

Akoya Biosciences Stock Up 3.7 %

AKYA stock opened at $1.68 on Friday. The firm’s fifty day simple moving average is $2.28 and its 200-day simple moving average is $2.51. The company has a market capitalization of $83.28 million, a P/E ratio of -1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a 12 month low of $1.39 and a 12 month high of $5.16.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The business had revenue of $21.34 million during the quarter, compared to analysts’ expectations of $21.34 million. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. As a group, equities research analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Akoya Biosciences by 39.6% in the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after purchasing an additional 8,258 shares during the period. Paragon Associates & Paragon Associates II Joint Venture grew its position in shares of Akoya Biosciences by 1.4% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock valued at $1,834,000 after purchasing an additional 11,000 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Akoya Biosciences in the fourth quarter valued at about $27,000. SG Americas Securities LLC acquired a new position in Akoya Biosciences during the fourth quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Akoya Biosciences during the fourth quarter worth about $31,000. 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.