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

Stephens restated their equal weight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a report published on Tuesday,Benzinga reports. They currently have a $1.80 price objective on the stock, down from their prior price objective of $3.50.

Other research analysts have also issued reports about the company. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler downgraded 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. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.62.

Akoya Biosciences Stock Performance

AKYA stock opened at $1.54 on Tuesday. Akoya Biosciences has a twelve month low of $1.39 and a twelve month high of $4.99. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The company has a market cap of $76.72 million, a P/E ratio of -1.31 and a beta of 1.32. The business’s fifty day moving average is $2.19 and its 200-day moving average is $2.49.

Akoya Biosciences (NASDAQ:AKYA) last issued 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). The firm had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. Equities research analysts forecast that Akoya Biosciences will post -0.96 EPS for the current year.

Institutional Investors Weigh In On Akoya Biosciences

Several hedge funds have recently added to or reduced their stakes in AKYA. Deutsche Bank AG raised its position in shares of Akoya Biosciences by 404.1% in the fourth quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after purchasing an additional 43,920 shares during the period. Bank of America Corp DE raised its holdings in Akoya Biosciences by 39.6% in the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after acquiring an additional 8,258 shares during the period. Northern Trust Corp lifted its position in Akoya Biosciences by 18.9% during the fourth quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock worth $573,000 after acquiring an additional 39,799 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Akoya Biosciences during the fourth quarter worth approximately $31,000. Finally, Paragon Associates & Paragon Associates II Joint Venture boosted its holdings in shares of 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 acquiring an additional 11,000 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.