Akoya Biosciences (NASDAQ:AKYA) Receives “Overweight” Rating from Stephens

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a research note issued on Tuesday,Benzinga reports. They presently have a $3.50 target price on the stock. Stephens’ target price would indicate a potential upside of 108.33% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Piper Sandler lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price for the company. in a research report on Wednesday, March 5th. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.90.

Akoya Biosciences Trading Up 3.7 %

NASDAQ AKYA opened at $1.68 on Tuesday. The firm has a market capitalization of $83.28 million, a P/E ratio of -1.42 and a beta of 1.32. The business has a fifty day simple moving average of $2.28 and a 200 day simple moving average of $2.51. Akoya Biosciences has a 12 month low of $1.39 and a 12 month high of $5.16. 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 (NASDAQ:AKYA) last announced its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The business had revenue of $21.34 million for the quarter, compared to analysts’ expectations of $21.34 million. On average, analysts predict that Akoya Biosciences will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Paragon Associates & Paragon Associates II Joint Venture boosted its stake in Akoya Biosciences by 1.4% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after purchasing an additional 11,000 shares during the period. SVB Wealth LLC bought a new position in Akoya Biosciences in the 4th quarter worth about $1,180,000. State Street Corp raised its holdings in shares of Akoya Biosciences by 4.2% in the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after acquiring an additional 18,361 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after acquiring an additional 39,799 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Akoya Biosciences by 404.1% in the 4th quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after acquiring an additional 43,920 shares in the last quarter. 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.