Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 60.1% in February

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,250,000 shares, a growth of 60.1% from the January 31st total of 2,030,000 shares. Approximately 15.8% of the company’s shares are short sold. Based on an average daily volume of 666,100 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AKYA. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Canaccord Genuity Group lowered shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler reaffirmed 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.43.

Institutional Trading of Akoya Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in shares of Akoya Biosciences during the fourth quarter worth approximately $1,180,000. GSA Capital Partners LLP raised its position 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 purchasing an additional 144,903 shares during the period. Deutsche Bank AG lifted its stake in Akoya Biosciences by 404.1% in the fourth quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock worth $125,000 after purchasing an additional 43,920 shares during the last quarter. Northern Trust Corp boosted its position in Akoya Biosciences by 18.9% during the fourth quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after buying an additional 39,799 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Akoya Biosciences by 295.4% during the fourth quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock valued at $111,000 after buying an additional 36,093 shares during the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Price Performance

AKYA opened at $1.63 on Friday. 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 company has a market capitalization of $80.80 million, a price-to-earnings ratio of -1.38 and a beta of 1.23. The firm’s fifty day moving average price is $2.51 and its two-hundred day moving average price is $2.59. Akoya Biosciences has a 1 year low of $1.59 and a 1 year high of $6.31.

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.