Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $6.56.

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

Akoya Biosciences Stock Down 2.2 %

AKYA opened at $3.13 on Wednesday. The firm has a market cap of $154.58 million, a price-to-earnings ratio of -2.13 and a beta of 1.36. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. The firm’s 50-day simple moving average is $2.63 and its 200-day simple moving average is $2.81. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, hitting the consensus estimate of ($0.27). Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. The firm 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) earnings per share. Equities research analysts anticipate that Akoya Biosciences will post -0.98 EPS for the current fiscal year.

Institutional Trading of Akoya Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the period. Silvercrest Asset Management Group LLC bought a new position in Akoya Biosciences during the first quarter worth about $2,724,000. Bank of New York Mellon Corp grew its position in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the period. Finally, Regal Investment Advisors LLC increased its stake in shares of Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.

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.