HighTower Advisors LLC Decreases Position in Akoya Biosciences, Inc. (NASDAQ:AKYA)

HighTower Advisors LLC reduced its stake in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 25.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,200 shares of the company’s stock after selling 7,000 shares during the period. HighTower Advisors LLC’s holdings in Akoya Biosciences were worth $55,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AKYA. Regal Investment Advisors LLC raised its stake in shares of Akoya Biosciences by 64.3% during 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 period. Bank of New York Mellon Corp grew its holdings 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. Finally, GSA Capital Partners LLP increased its stake in 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 period. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Performance

Shares of AKYA stock opened at $2.46 on Friday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The stock has a market capitalization of $121.92 million, a price-to-earnings ratio of -2.08 and a beta of 1.22. Akoya Biosciences, Inc. has a one year low of $1.88 and a one year high of $6.31. The company’s 50-day simple moving average is $2.57 and its 200-day simple moving average is $2.51.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AKYA shares. Piper Sandler reissued an “overweight” rating and issued a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $7.00 to $5.00 in a report on Friday, November 15th. Finally, Canaccord Genuity Group dropped their price objective on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.43.

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.