Piper Sandler Has Lowered Expectations for Akoya Biosciences (NASDAQ:AKYA) Stock Price

Akoya Biosciences (NASDAQ:AKYA) had its price target decreased by analysts at Piper Sandler from $2.40 to $1.65 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 38.66% from the company’s previous close.

AKYA has been the subject of a number of other reports. Stephens restated an “equal weight” rating and issued a $1.80 price objective (down from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. Canaccord Genuity Group downgraded 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.49.

Akoya Biosciences Stock Performance

Shares of AKYA stock opened at $1.19 on Monday. The firm has a market capitalization of $59.31 million, a price-to-earnings ratio of -1.01 and a beta of 1.33. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The business’s 50-day moving average price is $1.63 and its 200-day moving average price is $2.32. Akoya Biosciences has a 12 month low of $1.01 and a 12 month high of $4.65.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, March 17th. The company reported ($0.17) 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 business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. Equities research analysts forecast that Akoya Biosciences will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Akoya Biosciences

A number of hedge funds have recently added to or reduced their stakes in AKYA. State Street Corp lifted its position 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 valued at $1,233,000 after acquiring an additional 18,361 shares during the period. Barclays PLC raised its holdings in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after purchasing an additional 30,095 shares during the period. SG Americas Securities LLC bought a new position in shares of Akoya Biosciences during the 4th quarter worth about $28,000. SVB Wealth LLC acquired a new stake in shares of Akoya Biosciences in the 4th quarter valued at about $1,180,000. Finally, Intech Investment Management LLC bought a new stake in Akoya Biosciences in the 4th quarter valued at about $27,000. 79.42% of the stock is currently 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.