Akoya Biosciences (NASDAQ:AKYA) Coverage Initiated by Analysts at Craig Hallum

Research analysts at Craig Hallum started coverage on shares of Akoya Biosciences (NASDAQ:AKYA) in a research report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $7.50 price target on the stock. Craig Hallum’s price target indicates a potential upside of 236.32% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. UBS Group raised their target price 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. Canaccord Genuity Group lowered their target price on shares of Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. 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 report on Wednesday, March 6th. BTIG Research lowered 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. Finally, Morgan Stanley lowered their target price on shares of Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, June 3rd. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Akoya Biosciences Trading Up 4.2 %

AKYA stock opened at $2.23 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.07 and a quick ratio of 2.38. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $7.68. The company’s 50 day moving average is $3.07 and its two-hundred day moving average is $4.33.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.35) earnings per share 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. As a group, equities research analysts expect that Akoya Biosciences will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors have recently made changes to their positions in AKYA. Schonfeld Strategic Advisors LLC boosted its position in shares of Akoya Biosciences by 5.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after purchasing an additional 7,200 shares in the last quarter. Kent Lake Capital LLC purchased a new stake in shares of Akoya Biosciences during the 3rd quarter worth $3,471,000. Polar Capital Holdings Plc boosted its position in shares of Akoya Biosciences by 4.2% during the 3rd 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Akoya Biosciences by 10,169.5% during the 4th 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 in the last quarter. Finally, Peddock Capital Advisors LLC boosted its position in shares of Akoya Biosciences by 546.2% during the 4th quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock worth $1,419,000 after purchasing an additional 245,728 shares in the last quarter. 79.42% of the stock is currently owned by hedge funds and other 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.