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

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $6.56.

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

Akoya Biosciences Trading Down 3.5 %

Shares of NASDAQ AKYA opened at $2.72 on Friday. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43. The company has a 50-day moving average of $2.47 and a two-hundred day moving average of $3.01. The company has a market cap of $134.64 million, a PE ratio of -1.85 and a beta of 1.35.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKYA. Regal Investment Advisors LLC lifted its holdings in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Akoya Biosciences by 16.2% in 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 during the period. CIBC Asset Management Inc raised its holdings in shares of Akoya Biosciences by 176.0% during 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 during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Akoya Biosciences during the first quarter worth $2,724,000. Finally, Parkman Healthcare Partners LLC lifted its position 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 in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

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.