Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $7.21.

Several equities analysts recently weighed in on the company. Canaccord Genuity Group cut their price target on Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Morgan Stanley decreased their target price on Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. JPMorgan Chase & Co. dropped their price target 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. UBS Group upped their price objective on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, BTIG Research dropped their target price on shares of Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th.

Akoya Biosciences Price Performance

NASDAQ:AKYA opened at $2.26 on Thursday. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.07 and a quick ratio of 2.38. The company has a 50 day moving average price of $3.28 and a 200-day moving average price of $4.41. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $8.80. The firm has a market cap of $111.62 million, a price-to-earnings ratio of -1.54 and a beta of 1.31.

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

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now directly owns 231,868 shares of the company’s stock, valued at $1,152,383.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 22,500 shares of company stock valued at $67,950 in the last 90 days. 7.30% of the stock is owned by insiders.

Institutional Trading of Akoya Biosciences

Hedge funds have recently bought and sold shares of the business. Kent Lake Capital LLC purchased a new stake in shares of Akoya Biosciences in the third quarter valued at approximately $3,471,000. Silvercrest Asset Management Group LLC purchased a new position in shares of Akoya Biosciences during the 1st quarter worth $2,724,000. Peddock Capital Advisors LLC grew its holdings in shares of Akoya Biosciences by 546.2% in the fourth quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock valued at $1,419,000 after purchasing an additional 245,728 shares during the period. Parkman Healthcare Partners LLC increased its position in Akoya Biosciences by 28.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock worth $3,293,000 after purchasing an additional 149,164 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Akoya Biosciences by 176.0% during the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after purchasing an additional 73,737 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.