Stephens Reiterates “Equal Weight” Rating for Akoya Biosciences (NASDAQ:AKYA)

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “equal weight” rating restated by stock analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $1.80 price target on the stock, down from their previous price target of $3.50. Stephens’ price target suggests a potential upside of 11.80% from the stock’s current price.

Several other brokerages also recently issued reports on AKYA. Piper Sandler downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective for the company. in a research report on Wednesday, March 5th. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Akoya Biosciences presently has a consensus rating of “Hold” and an average price target of $3.62.

Akoya Biosciences Price Performance

Akoya Biosciences stock traded down $0.06 during mid-day trading on Tuesday, hitting $1.61. 21,880 shares of the company were exchanged, compared to its average volume of 347,053. Akoya Biosciences has a 1-year low of $1.39 and a 1-year high of $5.00. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The business has a fifty day moving average of $2.21 and a 200 day moving average of $2.50. The company has a market capitalization of $80.20 million, a PE ratio of -1.37 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The firm had revenue of $21.34 million during the quarter, compared to analyst estimates 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, sell-side analysts expect that Akoya Biosciences will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of AKYA. Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter valued at $27,000. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences during the 4th quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Akoya Biosciences in the 4th quarter valued at about $31,000. Bank of America Corp DE raised its position in shares of Akoya Biosciences by 39.6% in the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after acquiring an additional 8,258 shares during the period. Finally, Barclays PLC boosted its stake in 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 acquiring an additional 30,095 shares during the last quarter. 79.42% of the stock is owned by 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.