Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 20.7% in December

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,810,000 shares, an increase of 20.7% from the November 30th total of 1,500,000 shares. Currently, 9.1% of the company’s stock are sold short. Based on an average daily trading volume, of 229,100 shares, the days-to-cover ratio is currently 7.9 days.

Institutional Trading of Akoya Biosciences

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased 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 during the last quarter. GSA Capital Partners LLP raised its position in Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after acquiring an additional 144,903 shares in the last quarter. Bank of New York Mellon Corp grew its position in Akoya Biosciences by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares in the last quarter. Barclays PLC raised its holdings 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 purchasing an additional 30,095 shares in the last quarter. Finally, Regal Investment Advisors LLC boosted its stake 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 worth $44,000 after acquiring an additional 7,340 shares in the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AKYA has been the subject of several research reports. Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their target price for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Canaccord Genuity Group reduced their price target 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, Piper Sandler restated an “overweight” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.43.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $2.38 on Tuesday. The company has a market cap of $117.96 million, a P/E ratio of -2.02 and a beta of 1.22. The company’s fifty day moving average is $2.55 and its two-hundred day moving average is $2.52. The company has a quick ratio of 1.85, a current ratio of 2.75 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.

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.