Akoya Biosciences (NASDAQ:AKYA) Given “Overweight” Rating at Stephens

Stephens restated their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a research note published on Tuesday morning,Benzinga reports. They currently have a $3.50 price target on the stock.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.90.

Akoya Biosciences Trading Up 3.8 %

AKYA opened at $1.62 on Tuesday. Akoya Biosciences has a 1-year low of $1.39 and a 1-year high of $5.16. The firm has a 50-day moving average price of $2.30 and a two-hundred day moving average price of $2.52. The stock has a market capitalization of $80.31 million, a PE ratio of -1.37 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

Akoya Biosciences (NASDAQ:AKYA) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.17) earnings per share 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 firm had revenue of $21.34 million for the quarter, compared to the consensus estimate of $21.34 million. As a group, equities analysts anticipate that Akoya Biosciences will post -0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AKYA. Bank of America Corp DE grew its stake in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after acquiring an additional 8,258 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture boosted its holdings in Akoya Biosciences by 1.4% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after purchasing an additional 11,000 shares during the last quarter. Intech Investment Management LLC acquired a new position in Akoya Biosciences during the fourth quarter worth $27,000. SG Americas Securities LLC bought a new position in Akoya Biosciences in the fourth quarter valued at $28,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.