Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $6.56

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.56.

Several equities analysts have commented on the company. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler reduced their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. Craig Hallum reduced their price objective on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th.

Institutional Trading of Akoya Biosciences

Institutional investors have recently bought and sold shares of the company. Regal Investment Advisors LLC increased its stake in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares in the last quarter. Bank of New York Mellon Corp grew its stake 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 acquiring an additional 9,429 shares in the last quarter. CIBC Asset Management Inc grew its position in Akoya Biosciences by 176.0% in the 4th 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 in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in Akoya Biosciences in the 1st quarter valued at about $2,724,000. Finally, Parkman Healthcare Partners LLC lifted its position in shares of Akoya Biosciences by 28.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock worth $3,293,000 after buying an additional 149,164 shares in the last quarter. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Trading Up 5.5 %

AKYA opened at $2.86 on Friday. The company’s 50 day moving average is $2.49 and its 200-day moving average is $2.99. The company has a market cap of $141.57 million, a P/E ratio of -1.95 and a beta of 1.35. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.27). Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. The firm had revenue of $23.16 million for the quarter, compared to analysts’ expectations of $23.61 million. During the same quarter in the previous year, the firm posted ($0.51) earnings per share. Equities research analysts predict that Akoya Biosciences will post -0.98 earnings per share for the current fiscal year.

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.