Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Recommendation of “Hold” by Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.43.

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler restated an “overweight” rating and issued a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $7.00 to $5.00 in a report on Friday, November 15th.

Akoya Biosciences Stock Down 11.2 %

AKYA opened at $1.82 on Tuesday. The business has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.61. Akoya Biosciences has a twelve month low of $1.82 and a twelve month high of $6.31. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The firm has a market cap of $90.22 million, a P/E ratio of -1.54 and a beta of 1.23.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences during the fourth quarter worth approximately $27,000. SG Americas Securities LLC bought a new stake in shares of Akoya Biosciences during the fourth quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Akoya Biosciences during the fourth quarter valued at approximately $31,000. Bank of America Corp DE increased its position in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after purchasing an additional 8,258 shares during the period. Finally, Barclays PLC increased its position in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after purchasing an additional 30,095 shares during the period. 79.42% of the stock is currently owned by institutional investors and hedge funds.

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.