Akoya Biosciences (NASDAQ:AKYA) Coverage Initiated by Analysts at Craig Hallum

Craig Hallum assumed coverage on shares of Akoya Biosciences (NASDAQ:AKYA) in a report issued on Friday, MarketBeat reports. The brokerage issued a buy rating and a $7.50 price objective on the stock.

A number of other equities research analysts also recently commented on AKYA. Morgan Stanley dropped their price objective on Akoya Biosciences from $8.00 to $4.00 and set an overweight rating for the company in a report on Monday, June 3rd. UBS Group increased their price target on Akoya Biosciences from $7.00 to $7.50 and gave the stock a buy rating in a report on Tuesday, March 5th. BTIG Research lowered their price target on Akoya Biosciences from $9.00 to $6.00 and set a buy rating for the company in a report on Tuesday, May 14th. Canaccord Genuity Group lowered their price target on Akoya Biosciences from $10.00 to $6.00 and set a buy rating for the company in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. lowered their price target on Akoya Biosciences from $12.00 to $10.00 and set an overweight rating for the company in a report on Wednesday, March 6th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $7.25.

Akoya Biosciences Trading Up 5.8 %

Shares of AKYA opened at $2.36 on Friday. The stock’s fifty day simple moving average is $3.03 and its 200-day simple moving average is $4.31. The firm has a market capitalization of $116.56 million, a PE ratio of -1.66 and a beta of 1.31. The company has a quick ratio of 2.38, a current ratio of 3.07 and a debt-to-equity ratio of 2.33. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $7.68.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The company had revenue of $18.35 million during the quarter, compared to the consensus estimate of $24.13 million. Akoya Biosciences had a negative net margin of 72.68% and a negative return on equity of 111.80%. As a group, research analysts predict that Akoya Biosciences will post -0.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Akoya Biosciences by 10,169.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after buying an additional 6,000 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Akoya Biosciences by 5.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after buying an additional 7,200 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Akoya Biosciences by 291.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after buying an additional 7,746 shares in the last quarter. Vanguard Group Inc. boosted its position in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Finally, Polar Capital Holdings Plc boosted its position in Akoya Biosciences by 4.2% during the third quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock valued at $7,346,000 after purchasing an additional 64,286 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors.

About Akoya Biosciences

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.