Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $5.43 Average Price Target from Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.43.

AKYA has been the topic of a number of analyst reports. Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and set a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group dropped their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a report on Friday, November 15th.

Hedge Funds Weigh In On Akoya Biosciences

Several large investors have recently made changes to their positions in AKYA. Regal Investment Advisors LLC boosted its holdings in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the period. Barclays PLC lifted its position in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Akoya Biosciences by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after purchasing an additional 9,429 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares in the last quarter. Finally, State Street Corp increased its stake in 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. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Akoya Biosciences Trading Up 2.4 %

AKYA opened at $2.12 on Thursday. The firm has a market capitalization of $105.07 million, a price-to-earnings ratio of -1.80 and a beta of 1.22. The company’s 50 day simple moving average is $2.72 and its two-hundred day simple moving average is $2.49. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. 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 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.