Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $9.07 Average PT from Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.07.

Several research analysts recently commented on AKYA shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 target price on shares of Akoya Biosciences in a research note on Tuesday, March 5th. UBS Group raised their price target on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th.

Insider Buying and Selling at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $4.94, for a total transaction of $37,050.00. Following the completion of the transaction, the chief executive officer now directly owns 224,368 shares of the company’s stock, valued at $1,108,377.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in Akoya Biosciences by 10,169.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock valued at $30,000 after acquiring an additional 6,000 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Akoya Biosciences by 291.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock valued at $51,000 after purchasing an additional 7,746 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Akoya Biosciences by 176.0% during the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock valued at $564,000 after buying an additional 73,737 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Akoya Biosciences by 5.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after purchasing an additional 7,200 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Akoya Biosciences by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock valued at $618,000 after purchasing an additional 10,233 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

Akoya Biosciences Trading Down 0.5 %

NASDAQ AKYA opened at $3.80 on Wednesday. The stock has a market capitalization of $187.64 million, a P/E ratio of -2.57 and a beta of 1.48. Akoya Biosciences has a one year low of $3.04 and a one year high of $8.80. The business has a 50 day simple moving average of $4.74 and a 200 day simple moving average of $4.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.45 and a quick ratio of 2.94.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, March 4th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. The firm had revenue of $26.49 million during the quarter, compared to analyst estimates of $26.12 million. During the same period in the previous year, the company posted ($0.50) EPS. Research analysts expect that Akoya Biosciences will post -0.86 earnings per share for the current year.

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.