Akoya Biosciences (NASDAQ:AKYA) Issues Earnings Results

Akoya Biosciences (NASDAQ:AKYA) issued its quarterly earnings data on Monday. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02), Zacks reports. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%.

Akoya Biosciences Stock Performance

Shares of NASDAQ:AKYA traded up $0.06 during trading on Monday, reaching $1.56. 344,100 shares of the company’s stock traded hands, compared to its average volume of 778,988. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a 12 month low of $1.43 and a 12 month high of $5.16. The company has a 50 day moving average of $2.34 and a 200-day moving average of $2.53. The stock has a market capitalization of $77.33 million, a P/E ratio of -1.32 and a beta of 1.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AKYA. Piper Sandler lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research note on Wednesday, March 5th. Canaccord Genuity Group lowered shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.98.

Institutional Investors Weigh In On Akoya Biosciences

An institutional investor recently raised its position in Akoya Biosciences stock. Bank of America Corp DE grew its position in Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the period. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 as of its most recent SEC filing. 79.42% of the stock is currently owned by hedge funds and other 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.