Akoya Biosciences, Inc. (NASDAQ:AKYA) Shares Bought by Regal Investment Advisors LLC

Regal Investment Advisors LLC grew its position in Akoya Biosciences, Inc. (NASDAQ:AKYA) by 64.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,760 shares of the company’s stock after acquiring an additional 7,340 shares during the quarter. Regal Investment Advisors LLC’s holdings in Akoya Biosciences were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AKYA. Vanguard Group Inc. boosted its stake in Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the period. Parkman Healthcare Partners LLC increased its position in Akoya Biosciences by 28.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock valued at $3,293,000 after acquiring an additional 149,164 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in Akoya Biosciences during the 1st quarter valued at approximately $2,724,000. CIBC Asset Management Inc lifted its position in Akoya Biosciences by 176.0% during the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after acquiring an additional 73,737 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after purchasing an additional 9,429 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AKYA shares. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley cut shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. Piper Sandler dropped their price target on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. downgraded shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, Craig Hallum dropped their target price on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.56.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $2.68 on Thursday. The firm has a market capitalization of $132.35 million, a price-to-earnings ratio of -1.82 and a beta of 1.35. The company has a debt-to-equity ratio of 3.43, a current ratio of 2.73 and a quick ratio of 1.98. The business’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.94. Akoya Biosciences, Inc. has a 12 month low of $1.88 and a 12 month high of $6.31.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, meeting the consensus estimate of ($0.27). The company had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. During the same quarter in the prior year, the company earned ($0.51) earnings per share. As a group, equities analysts forecast that Akoya Biosciences, Inc. will post -0.98 earnings per share for the current fiscal year.

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.