Akoya Biosciences (AKYA) to Release Quarterly Earnings on Monday

Akoya Biosciences (NASDAQ:AKYA) is expected to release its earnings data after the market closes on Monday, March 31st. Analysts expect Akoya Biosciences to post earnings of ($0.16) per share and revenue of $21.34 million for the quarter.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. The business had revenue of $21.34 million during the quarter, compared to analysts’ expectations of $21.34 million. On average, analysts expect Akoya Biosciences to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Akoya Biosciences Stock Performance

Shares of NASDAQ:AKYA opened at $1.70 on Monday. Akoya Biosciences has a 52 week low of $1.39 and a 52 week high of $5.00. The stock has a market capitalization of $84.69 million, a P/E ratio of -1.44 and a beta of 1.32. The firm has a fifty day simple moving average of $2.24 and a two-hundred day simple moving average of $2.51. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

Hedge Funds Weigh In On Akoya Biosciences

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE increased its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the period. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 at the end of the most recent quarter. 79.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AKYA. Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Stephens reaffirmed an “overweight” rating and set a $3.50 price target on shares of Akoya Biosciences in a research note on Tuesday, March 18th. Finally, Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target for the company. in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Akoya Biosciences currently has an average rating of “Hold” and an average target price of $3.90.

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.