Akoya Biosciences, Inc. (NASDAQ:AKYA) Sees Significant Increase in Short Interest

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 1,500,000 shares, an increase of 18.1% from the November 15th total of 1,270,000 shares. Approximately 7.5% of the shares of the company are short sold. Based on an average daily trading volume, of 228,600 shares, the short-interest ratio is presently 6.6 days.

Institutional Trading of Akoya Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in shares of 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 purchasing an additional 144,903 shares during the period. Vanguard Group Inc. grew its position in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares in the last quarter. Barclays PLC increased its stake in 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. State Street Corp increased its stake in 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. Finally, 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 worth $158,000 after buying an additional 9,429 shares in the last quarter. Institutional investors own 79.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Akoya Biosciences Stock Performance

Shares of NASDAQ AKYA opened at $2.27 on Friday. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The company has a market cap of $112.50 million, a PE ratio of -1.92 and a beta of 1.22. The stock has a 50 day simple moving average of $2.68 and a 200-day simple moving average of $2.49. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

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.