Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given an average rating of “Moderate Buy” by the nine brokerages that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.56.

AKYA has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Piper Sandler reduced their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Craig Hallum decreased their target price on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley downgraded Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $4.00 to $3.00 in a research report on Tuesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Regal Investment Advisors LLC lifted its position in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares during the period. Bank of New York Mellon Corp boosted its stake in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after buying an additional 9,429 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Akoya Biosciences during the first quarter worth about $2,724,000. Vanguard Group Inc. raised its position in Akoya Biosciences by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after acquiring an additional 46,131 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its holdings in Akoya Biosciences by 28.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock valued at $3,293,000 after acquiring an additional 149,164 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors.

Akoya Biosciences Trading Down 1.0 %

NASDAQ AKYA opened at $2.88 on Friday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31. The company has a 50-day simple moving average of $2.45 and a 200-day simple moving average of $3.09. The firm has a market capitalization of $142.23 million, a PE ratio of -1.96 and a beta of 1.35.

Akoya Biosciences (NASDAQ:AKYA) last announced its quarterly earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.27). Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. The business had revenue of $23.16 million for the quarter, compared to analysts’ expectations of $23.61 million. During the same period in the prior year, the firm earned ($0.51) EPS. On average, equities analysts forecast that Akoya Biosciences will post -0.98 earnings per share for the current year.

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.