Intech Investment Management LLC Purchases New Position in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Intech Investment Management LLC acquired a new stake in Akoya Biosciences, Inc. (NASDAQ:AKYA) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 11,780 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Akoya Biosciences in the fourth quarter valued at $28,000. Barclays PLC boosted its stake in Akoya Biosciences by 320.9% in 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. SVB Wealth LLC purchased a new position in Akoya Biosciences during the 4th quarter valued at about $1,180,000. Finally, State Street Corp increased its position in shares of Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares during the period. Institutional investors own 79.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AKYA. Stephens reaffirmed an “equal weight” rating and set a $1.80 price objective (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday. Piper Sandler lowered 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 report on Wednesday, March 5th. Finally, Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.62.

Akoya Biosciences Price Performance

AKYA stock opened at $1.43 on Friday. The firm has a 50 day simple moving average of $2.11 and a two-hundred day simple moving average of $2.47. The stock has a market cap of $71.24 million, a PE ratio of -1.21 and a beta of 1.32. Akoya Biosciences, Inc. has a one year low of $1.39 and a one year high of $4.69. 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 (NASDAQ:AKYA) last announced its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $21.34 million during the quarter, compared to analysts’ expectations of $21.34 million. On average, analysts predict that Akoya Biosciences, Inc. will post -0.96 EPS for the current fiscal year.

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.