FY2024 EPS Estimates for Akoya Biosciences, Inc. (NASDAQ:AKYA) Boosted by Capital One Financial

Akoya Biosciences, Inc. (NASDAQ:AKYA) – Equities researchers at Capital One Financial increased their FY2024 earnings per share estimates for shares of Akoya Biosciences in a research report issued on Tuesday, August 6th. Capital One Financial analyst T. Chiang now anticipates that the company will post earnings per share of ($0.93) for the year, up from their prior estimate of ($0.94). The consensus estimate for Akoya Biosciences’ current full-year earnings is ($0.99) per share. Capital One Financial also issued estimates for Akoya Biosciences’ Q4 2024 earnings at ($0.12) EPS.

AKYA has been the subject of several other reports. Craig Hallum lowered their target price on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley cut Akoya Biosciences from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $4.00 to $3.00 in a research note on Tuesday. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group lowered their target price on Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th. Finally, BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.06.

Akoya Biosciences Price Performance

AKYA stock traded up $0.11 during midday trading on Thursday, reaching $2.20. 231,219 shares of the company’s stock traded hands, compared to its average volume of 260,934. The company has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $3.70. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.36. The company has a market cap of $108.65 million, a price-to-earnings ratio of -1.50 and a beta of 1.34. The company has a quick ratio of 2.38, a current ratio of 3.07 and a debt-to-equity ratio of 2.33.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, August 5th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). The business had revenue of $23.16 million during the quarter, compared to the consensus estimate of $23.61 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. During the same quarter last year, the company earned ($0.51) EPS.

Hedge Funds Weigh In On Akoya Biosciences

A number of institutional investors have recently bought and sold shares of AKYA. Nisa Investment Advisors LLC boosted its stake in shares of Akoya Biosciences by 10,169.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock valued at $30,000 after buying an additional 6,000 shares during the period. Tower Research Capital LLC TRC lifted its stake in Akoya Biosciences by 291.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after purchasing an additional 7,746 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after purchasing an additional 9,429 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Akoya Biosciences by 176.0% during the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after purchasing an additional 73,737 shares during the last quarter. Finally, Peddock Capital Advisors LLC lifted its stake in Akoya Biosciences by 546.2% during the fourth quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock worth $1,419,000 after purchasing an additional 245,728 shares during the last quarter. Institutional investors and hedge funds 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.