Aktis Oncology (NASDAQ:AKTS) Earns Outperform Rating from Analysts at Wedbush

Research analysts at Wedbush began coverage on shares of Aktis Oncology (NASDAQ:AKTS) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $35.00 price target on the technology company’s stock. Wedbush’s price objective indicates a potential upside of 40.00% from the stock’s previous close.

AKTS has been the subject of several other reports. Weiss Ratings upgraded shares of Aktis Oncology from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. BMO Capital Markets started coverage on Aktis Oncology in a research note on Tuesday. They set an “outperform” rating and a $37.00 price target for the company. HC Wainwright upped their price objective on Aktis Oncology from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Wall Street Zen lowered Aktis Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, William Blair initiated coverage on Aktis Oncology in a report on Wednesday, April 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

Aktis Oncology Trading Up 1.1%

AKTS stock opened at $25.00 on Wednesday. The company’s 50 day moving average is $25.23 and its 200 day moving average is $21.21. The stock has a market cap of $1.33 billion and a price-to-earnings ratio of -30.49. Aktis Oncology has a 1-year low of $14.72 and a 1-year high of $34.19.

Aktis Oncology (NASDAQ:AKTS) last announced its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The business had revenue of $3.38 million for the quarter, compared to analyst estimates of $2.70 million. As a group, sell-side analysts forecast that Aktis Oncology will post -1.72 EPS for the current fiscal year.

Insider Activity at Aktis Oncology

In related news, Director Ken Herrmann sold 4,856 shares of Aktis Oncology stock in a transaction on Monday, July 20th. The shares were sold at an average price of $24.56, for a total value of $119,263.36. Following the transaction, the director owned 3,506 shares in the company, valued at $86,107.36. This trade represents a 58.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Aktis Oncology by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 72,835 shares of the technology company’s stock valued at $2,347,000 after acquiring an additional 2,909 shares during the last quarter. Jupiter Topco LLC bought a new position in Aktis Oncology during the 2nd quarter worth approximately $42,359,000. The Manufacturers Life Insurance Company increased its stake in Aktis Oncology by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company’s stock worth $1,548,000 after purchasing an additional 1,051 shares during the period. Great Lakes Advisors LLC purchased a new position in Aktis Oncology in the 2nd quarter worth approximately $1,406,000. Finally, BlackRock Inc. lifted its position in Aktis Oncology by 7.9% in the second quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock valued at $73,431,000 after purchasing an additional 166,231 shares during the last quarter. 28.84% of the stock is owned by institutional investors.

Aktis Oncology Company Profile

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.