Akoya Biosciences (NASDAQ:AKYA) Lowered to “Hold” Rating by Craig Hallum

Craig Hallum lowered shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a hold rating in a research report released on Friday, Marketbeat reports. They currently have $5.00 price target on the stock, down from their previous price target of $7.00.

Several other equities research analysts also recently weighed in on AKYA. Piper Sandler decreased their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.57.

Akoya Biosciences Stock Performance

AKYA stock traded down $0.72 on Friday, hitting $2.41. The company’s stock had a trading volume of 1,260,584 shares, compared to its average volume of 225,490. The stock has a market cap of $119.29 million, a price-to-earnings ratio of -2.04 and a beta of 1.34. The firm has a 50 day moving average of $2.91 and a two-hundred day moving average of $2.65. 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 has a 1 year low of $1.88 and a 1 year high of $6.31.

Institutional Trading of Akoya Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Regal Investment Advisors LLC lifted its position in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the period. Barclays PLC increased its stake in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Akoya Biosciences by 16.2% in the second 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 during the last quarter. GSA Capital Partners LLP lifted its position in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after acquiring an additional 144,903 shares in the last quarter. Finally, State Street Corp increased its position in Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after purchasing an additional 18,361 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.