Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Down 30.8% in March

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 2,490,000 shares, a decline of 30.8% from the February 28th total of 3,600,000 shares. Based on an average daily trading volume, of 639,800 shares, the short-interest ratio is presently 3.9 days. Currently, 12.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Akoya Biosciences

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Akoya Biosciences during the fourth quarter worth approximately $28,000. Barclays PLC raised its stake in shares of Akoya Biosciences by 320.9% during 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 period. State Street Corp lifted its position in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Akoya Biosciences in the 4th quarter valued at $27,000. Finally, SVB Wealth LLC purchased a new stake in Akoya Biosciences in the 4th quarter worth $1,180,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Akoya Biosciences Stock Down 4.0 %

Shares of AKYA stock opened at $1.43 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a twelve month low of $1.39 and a twelve month high of $4.69. The stock has a 50 day moving average of $2.11 and a 200 day moving average of $2.47. The stock has a market cap of $71.24 million, a P/E ratio of -1.21 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $21.34 million for the quarter, compared to analysts’ expectations of $21.34 million. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. As a group, sell-side analysts expect that Akoya Biosciences will post -0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AKYA shares. Stephens restated an “equal weight” rating and issued a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.62.

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.