Piper Sandler Reiterates “Overweight” Rating for Akoya Biosciences (NASDAQ:AKYA)

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $3.00 price objective on the stock, down from their previous price objective of $4.00. Piper Sandler’s target price would indicate a potential upside of 38.89% from the company’s previous close.

Several other brokerages also recently commented on AKYA. BTIG Research downgraded Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley cut Akoya Biosciences from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. Canaccord Genuity Group reduced their price objective on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $7.00 to $5.00 in a report on Friday, November 15th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.43.

Akoya Biosciences Stock Performance

NASDAQ AKYA opened at $2.16 on Tuesday. The company has a market cap of $107.06 million, a P/E ratio of -1.83 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The business’s 50 day moving average price is $2.88 and its 200-day moving average price is $2.60. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31.

Institutional Investors Weigh In On Akoya Biosciences

A number of institutional investors have recently modified their holdings of AKYA. Regal Investment Advisors LLC grew its stake in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares in the last quarter. Bank of New York Mellon Corp increased its position in Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after purchasing an additional 9,429 shares during the period. State Street Corp grew its holdings in shares of Akoya Biosciences by 4.2% in the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after acquiring an additional 18,361 shares during the period. Barclays PLC grew its holdings in shares of Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after acquiring an additional 30,095 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares during the last quarter. 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.