Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Rating of “Hold” from Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $5.43.

Several research analysts have recently weighed in on AKYA shares. Piper Sandler restated an “overweight” rating and set a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Canaccord Genuity Group lowered their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $5.00 in a report on Friday, November 15th.

Akoya Biosciences Stock Performance

AKYA stock opened at $2.19 on Thursday. 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 12-month low of $1.88 and a 12-month high of $6.31. The stock has a market cap of $108.54 million, a price-to-earnings ratio of -1.86 and a beta of 1.22. The business’s 50-day moving average is $2.75 and its 200 day moving average is $2.50.

Institutional Trading of Akoya Biosciences

Institutional investors have recently made changes to their positions in the company. Regal Investment Advisors LLC raised its position in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after buying an additional 7,340 shares during the period. Barclays PLC raised its position in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 buying an additional 9,429 shares during the period. GSA Capital Partners LLP raised its position 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 valued at $845,000 after buying an additional 144,903 shares during the period. Finally, State Street Corp raised its position 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 valued at $1,233,000 after buying an additional 18,361 shares during the period. Hedge funds and other institutional investors own 79.42% of the company’s stock.

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.