Akoya Biosciences’ (AKYA) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a report published on Tuesday,Benzinga reports. They currently have a $3.00 price target on the stock, down from their prior price target of $4.00.

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

Akoya Biosciences Stock Performance

Shares of NASDAQ AKYA opened at $2.11 on Tuesday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The company has a market cap of $104.57 million, a P/E ratio of -1.79 and a beta of 1.34. The firm’s fifty day moving average is $2.85 and its two-hundred day moving average is $2.58. Akoya Biosciences has a 52-week low of $1.88 and a 52-week high of $6.31.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Silvercrest Asset Management Group LLC purchased a new position in shares of Akoya Biosciences during the 1st quarter worth about $2,724,000. GSA Capital Partners LLP boosted 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 purchasing an additional 144,903 shares during the period. Vanguard Group Inc. boosted its stake in shares of Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the period. Barclays PLC boosted 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 purchasing an additional 30,095 shares during the period. Finally, State Street Corp boosted 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 purchasing an additional 18,361 shares during the period. 79.42% of the stock is 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.