Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Average Rating of “Moderate Buy” from Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $6.56.

A number of analysts have weighed in on AKYA shares. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Craig Hallum reduced their target price on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $4.00 to $3.00 in a research report on Tuesday, August 6th. Finally, Piper Sandler lowered their target price on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th.

Akoya Biosciences Stock Down 4.3 %

Shares of AKYA stock opened at $2.47 on Tuesday. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The company has a market capitalization of $121.98 million, a price-to-earnings ratio of -1.68 and a beta of 1.34. The company has a debt-to-equity ratio of 2.33, a quick ratio of 2.38 and a current ratio of 3.07. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $3.44.

Akoya Biosciences (NASDAQ:AKYA) last released its earnings results on Monday, August 5th. The company reported ($0.27) EPS for the quarter, meeting the consensus estimate of ($0.27). Akoya Biosciences had a negative net margin of 72.68% and a negative return on equity of 111.80%. The firm had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. During the same period in the prior year, the company earned ($0.51) EPS. As a group, research analysts predict that Akoya Biosciences will post -0.99 EPS for the current year.

Institutional Investors Weigh In On Akoya Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of AKYA. Regal Investment Advisors LLC raised its holdings in shares of Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares during the period. Bank of New York Mellon Corp grew its position in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in shares of Akoya Biosciences in the first quarter worth approximately $2,724,000. Vanguard Group Inc. grew its position in Akoya Biosciences by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after acquiring an additional 46,131 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its position in shares of Akoya Biosciences by 28.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock valued at $3,293,000 after purchasing an additional 149,164 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

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.