Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $5.43 Average Target Price from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $5.43.

A number of equities analysts recently issued reports on AKYA shares. Canaccord Genuity Group cut their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Friday, November 15th. Craig Hallum lowered shares of Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th.

Akoya Biosciences Stock Down 3.8 %

Shares of NASDAQ:AKYA opened at $2.29 on Monday. 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 $1.88 and a 52-week high of $6.31. The business’s 50 day simple moving average is $2.53 and its two-hundred day simple moving average is $2.52. The firm has a market cap of $113.50 million, a P/E ratio of -1.94 and a beta of 1.22.

Institutional Investors Weigh In On Akoya Biosciences

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after purchasing an additional 144,903 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Akoya Biosciences by 16.2% in 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 during the last quarter. Regal Investment Advisors LLC grew its position in 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 buying an additional 7,340 shares during the period. Barclays PLC increased its holdings in Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the last quarter. Finally, State Street Corp raised its position in 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 period. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Company Profile

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.