Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 10.3% in June

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 2,250,000 shares, a growth of 10.3% from the May 31st total of 2,040,000 shares. Based on an average daily trading volume, of 327,800 shares, the days-to-cover ratio is presently 6.9 days. Approximately 10.3% of the company’s stock are short sold.

Akoya Biosciences Trading Down 1.4 %

Shares of NASDAQ AKYA opened at $2.18 on Wednesday. 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 stock has a market capitalization of $107.67 million, a P/E ratio of -1.48 and a beta of 1.34. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $7.68. The business has a fifty day moving average price of $2.78 and a 200 day moving average price of $4.19.

Akoya Biosciences (NASDAQ:AKYA) last issued 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 analysts’ expectations of $24.13 million. Equities research analysts expect that Akoya Biosciences will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AKYA. Craig Hallum began coverage on Akoya Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $7.50 target price for the company. UBS Group upped their target price on Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Tuesday, March 5th. BTIG Research lowered their target price on Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. Morgan Stanley lowered their target price on Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. Finally, Canaccord Genuity Group lowered their target price on Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Akoya Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Institutional Investors Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKYA. Schonfeld Strategic Advisors LLC raised its stake in Akoya Biosciences by 5.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after buying an additional 7,200 shares during the last quarter. Kent Lake Capital LLC purchased a new stake in Akoya Biosciences in the third quarter valued at about $3,471,000. Polar Capital Holdings Plc raised its stake 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 valued at $7,346,000 after buying an additional 64,286 shares during the last quarter. Nisa Investment Advisors LLC raised its stake 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 valued at $30,000 after buying an additional 6,000 shares during the last quarter. Finally, Peddock Capital Advisors LLC raised its stake in 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 buying an additional 245,728 shares during 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.