Akoya Biosciences, Inc. (NASDAQ:AKYA) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 176.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 115,644 shares of the company’s stock after acquiring an additional 73,737 shares during the period. CIBC Asset Management Inc’s holdings in Akoya Biosciences were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Akoya Biosciences by 8.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock valued at $618,000 after acquiring an additional 10,233 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Akoya Biosciences by 5.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after purchasing an additional 7,200 shares during the period. Kent Lake Capital LLC bought a new stake in shares of Akoya Biosciences during the third quarter valued at about $3,471,000. Polar Capital Holdings Plc lifted its holdings in Akoya Biosciences by 4.2% in the third quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock worth $7,346,000 after purchasing an additional 64,286 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Akoya Biosciences by 10,169.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after purchasing an additional 6,000 shares during the period. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Price Performance

NASDAQ AKYA opened at $2.05 on Monday. Akoya Biosciences, Inc. has a 1 year low of $1.88 and a 1 year high of $8.80. The business’s fifty day moving average is $3.42 and its two-hundred day moving average is $4.46. The stock has a market capitalization of $101.24 million, a P/E ratio of -1.39 and a beta of 1.31. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.38 and a current ratio of 3.07.

Akoya Biosciences (NASDAQ:AKYA) last announced its earnings results on Monday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. The company had revenue of $18.35 million for the quarter, compared to analyst estimates of $24.13 million. On average, research analysts forecast that Akoya Biosciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

AKYA has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. Canaccord Genuity Group dropped their target price on Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. UBS Group increased their price target on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. BTIG Research lowered their price target on Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Finally, Morgan Stanley cut their price objective on Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.21.

Insiders Place Their Bets

In other Akoya Biosciences news, CEO Brian Mckelligon sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $4.97, for a total value of $37,275.00. Following the completion of the transaction, the chief executive officer now directly owns 231,868 shares in the company, valued at $1,152,383.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 22,500 shares of company stock worth $89,400. Company insiders own 7.30% of the company’s stock.

Akoya Biosciences 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.