Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,030,000 shares, a drop of 6.5% from the January 15th total of 2,170,000 shares. Based on an average daily volume of 648,900 shares, the short-interest ratio is currently 3.1 days. Approximately 9.9% of the company’s stock are sold short.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $2.31 on Monday. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The business has a 50-day moving average of $2.60 and a two-hundred day moving average of $2.61. The stock has a market capitalization of $114.51 million, a P/E ratio of -1.96 and a beta of 1.23. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31.

Hedge Funds Weigh In On Akoya Biosciences

A number of institutional investors have recently made changes to their positions in AKYA. Intech Investment Management LLC bought a new position in shares of Akoya Biosciences in the fourth quarter worth about $27,000. SG Americas Securities LLC bought a new position in shares of Akoya Biosciences in the fourth quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences in the fourth quarter worth about $31,000. Barclays PLC increased its stake in shares of Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Akoya Biosciences by 295.4% in the fourth quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock worth $111,000 after purchasing an additional 36,093 shares during the period. 79.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on AKYA. Piper Sandler reissued an “overweight” rating and set a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Finally, Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.43.

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.