Akoya Biosciences’ (AKYA) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a research report report published on Tuesday,Benzinga reports. Piper Sandler currently has a $3.00 target price on the stock, down from their previous target price of $4.00.

A number of other research analysts have also commented on the stock. Craig Hallum lowered shares of Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $7.00 to $5.00 in a research note on Friday, November 15th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. Canaccord Genuity Group reduced their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.43.

Akoya Biosciences Stock Performance

AKYA opened at $2.11 on Tuesday. The business’s 50 day moving average is $2.87 and its 200-day moving average is $2.60. The stock has a market cap of $104.57 million, a PE ratio of -1.79 and a beta of 1.34. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Silvercrest Asset Management Group LLC acquired a new stake in Akoya Biosciences in the first quarter valued at $2,724,000. GSA Capital Partners LLP lifted its stake in shares of Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 46,131 shares during the last quarter. Barclays PLC lifted its stake in shares of Akoya Biosciences by 320.9% during 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 during the last quarter. Finally, State Street Corp lifted its stake in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after buying an additional 18,361 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.

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.