Akoya Biosciences (NASDAQ:AKYA) Earns Equal Weight Rating from Stephens

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “equal weight” rating restated by stock analysts at Stephens in a report issued on Tuesday,Benzinga reports. They currently have a $1.80 target price on the stock, down from their prior target price of $3.50. Stephens’ target price suggests a potential upside of 24.14% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Piper Sandler downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target for the company. in a research report on Wednesday, March 5th. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $3.62.

Akoya Biosciences Stock Down 5.8 %

NASDAQ AKYA opened at $1.45 on Tuesday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. Akoya Biosciences has a 52 week low of $1.39 and a 52 week high of $4.89. The stock has a market capitalization of $72.23 million, a P/E ratio of -1.23 and a beta of 1.32. The stock has a fifty day moving average of $2.17 and a 200-day moving average of $2.49.

Akoya Biosciences (NASDAQ:AKYA) last issued its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. The company had revenue of $21.34 million for the quarter, compared to the consensus estimate of $21.34 million. On average, equities research analysts forecast that Akoya Biosciences will post -0.96 EPS for the current year.

Institutional Trading of Akoya Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after acquiring an additional 8,258 shares during the period. Paragon Associates & Paragon Associates II Joint Venture lifted its stake in Akoya Biosciences by 1.4% during the fourth 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 last quarter. Intech Investment Management LLC bought a new stake in Akoya Biosciences in the 4th quarter worth approximately $27,000. SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences in the 4th quarter valued at $28,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Akoya Biosciences in the 4th quarter valued at about $31,000. 79.42% of the stock is owned by hedge funds and other institutional investors.

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.