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

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.43.

A number of research firms have issued reports on AKYA. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Friday, November 15th.

Institutional Investors Weigh In On Akoya Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of AKYA. Deutsche Bank AG raised its stake in shares of Akoya Biosciences by 404.1% in the 4th quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after acquiring an additional 43,920 shares during the period. Bank of America Corp DE increased its stake in Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after purchasing an additional 8,258 shares during the period. Northern Trust Corp lifted its holdings in Akoya Biosciences by 18.9% during the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock worth $573,000 after buying an additional 39,799 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Akoya Biosciences in the 4th quarter valued at approximately $31,000. Finally, Paragon Associates & Paragon Associates II Joint Venture grew its stake in shares of Akoya Biosciences by 1.4% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after acquiring an additional 11,000 shares in the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Akoya Biosciences Trading Up 2.7 %

Shares of NASDAQ AKYA opened at $2.31 on Tuesday. The business has a fifty day moving average price of $2.61 and a 200 day moving average price of $2.61. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. 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 stock has a market capitalization of $114.51 million, a P/E ratio of -1.96 and a beta of 1.23.

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.