Akoya Biosciences (NASDAQ:AKYA) Cut to Hold at Craig Hallum

Craig Hallum cut shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a hold rating in a report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has $5.00 price target on the stock, down from their previous price target of $7.00.

A number of other research firms also recently commented on AKYA. Piper Sandler dropped their price objective on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. BTIG Research lowered Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.57.

Akoya Biosciences Price Performance

AKYA opened at $2.41 on Friday. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.31. The company’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $2.63. The stock has a market capitalization of $119.30 million, a PE ratio of -2.04 and a beta of 1.34. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73.

Institutional Investors Weigh In On Akoya Biosciences

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares in the last quarter. State Street Corp lifted its stake in shares of Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after acquiring an additional 18,361 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after acquiring an additional 144,903 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Akoya Biosciences by 16.2% during 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 in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

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.