Akoya Biosciences’ (AKYA) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $3.50 target price on the stock.

Several other equities analysts also recently commented on AKYA. Piper Sandler downgraded 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 report on Wednesday, March 5th. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.90.

Akoya Biosciences Stock Performance

Akoya Biosciences stock opened at $1.68 on Tuesday. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The company has a market capitalization of $83.28 million, a price-to-earnings ratio of -1.42 and a beta of 1.32. Akoya Biosciences has a one year low of $1.39 and a one year high of $5.16. The company’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $2.51.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. On average, analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akoya Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after buying an additional 8,258 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture grew its position in Akoya Biosciences by 1.4% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after buying an additional 11,000 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Akoya Biosciences during the fourth quarter worth about $27,000. SG Americas Securities LLC acquired a new stake in Akoya Biosciences during the fourth quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Akoya Biosciences during the fourth quarter worth about $31,000. 79.42% of the stock is owned by institutional investors and hedge funds.

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.