Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Recommendation of “Hold” from Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has earned an average rating of “Hold” from the eight analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $5.43.

A number of research firms have weighed in on AKYA. 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. Piper Sandler reiterated an “overweight” rating and set a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Finally, Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.00 to $5.00 in a research note on Friday, November 15th.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. Regal Investment Advisors LLC increased its stake in shares of Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares in the last quarter. Barclays PLC boosted its holdings in 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 buying an additional 30,095 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Akoya Biosciences by 87.4% in the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the last quarter. Finally, State Street Corp boosted its holdings in 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 buying an additional 18,361 shares during the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Stock Performance

NASDAQ AKYA opened at $2.19 on Thursday. The stock has a 50-day simple moving average of $2.75 and a two-hundred day simple moving average of $2.50. The firm has a market capitalization of $108.54 million, a P/E ratio of -1.86 and a beta of 1.22. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75.

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.