BTIG Research Lowers Akoya Biosciences (NASDAQ:AKYA) to Neutral

BTIG Research cut shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports.

AKYA has been the topic of a number of other reports. Morgan Stanley lowered their price objective on Akoya Biosciences from $8.00 to $4.00 and set an overweight rating on the stock in a research report on Monday, June 3rd. JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an overweight rating to a neutral rating in a research report on Tuesday. Canaccord Genuity Group decreased their price objective on shares of Akoya Biosciences from $10.00 to $6.00 and set a buy rating on the stock in a research report on Tuesday, May 14th. Finally, Craig Hallum began coverage on shares of Akoya Biosciences in a research note on Friday, June 21st. They set a buy rating and a $7.50 target price on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $7.06.

Akoya Biosciences Stock Up 6.6 %

AKYA opened at $2.09 on Tuesday. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.55. The company has a quick ratio of 2.38, a current ratio of 3.07 and a debt-to-equity ratio of 2.33. The firm has a 50 day moving average price of $2.25 and a 200-day moving average price of $3.72. The stock has a market capitalization of $103.22 million, a price-to-earnings ratio of -1.42 and a beta of 1.34.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). The firm had revenue of $23.16 million during the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. During the same period in the prior year, the business posted ($0.51) EPS. Equities research analysts forecast that Akoya Biosciences will post -0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC bought a new position in Akoya Biosciences during the first quarter valued at $2,724,000. Peddock Capital Advisors LLC raised its position in shares of Akoya Biosciences by 546.2% during the 4th quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock valued at $1,419,000 after buying an additional 245,728 shares in the last quarter. Parkman Healthcare Partners LLC lifted its holdings in shares of 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. CIBC Asset Management Inc grew its position in Akoya Biosciences by 176.0% in the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after acquiring an additional 73,737 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 acquiring an additional 46,131 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.

About Akoya Biosciences

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.