Akoya Biosciences (NASDAQ:AKYA) Given “Equal Weight” Rating at Stephens

Stephens restated their equal weight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a $1.80 price target on the stock, down from their prior price target of $3.50.

AKYA has been the subject of several other research reports. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.62.

Akoya Biosciences Stock Up 2.8 %

NASDAQ:AKYA opened at $1.49 on Tuesday. Akoya Biosciences has a one year low of $1.39 and a one year high of $4.79. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The company has a market cap of $74.23 million, a PE ratio of -1.26 and a beta of 1.32. The firm’s 50 day simple moving average is $2.14 and its 200 day simple moving average is $2.48.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. On average, research analysts anticipate that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Akoya Biosciences

A number of hedge funds have recently added to or reduced their stakes in AKYA. SVB Wealth LLC bought a new stake in shares of Akoya Biosciences during the fourth quarter valued at approximately $1,180,000. Deutsche Bank AG lifted its position in shares of Akoya Biosciences by 404.1% during the fourth quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after purchasing an additional 43,920 shares in the last quarter. Northern Trust Corp increased its position in shares of Akoya Biosciences by 18.9% during the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after purchasing an additional 39,799 shares during the last quarter. JPMorgan Chase & Co. raised its position in Akoya Biosciences by 295.4% in the fourth quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock worth $111,000 after acquiring an additional 36,093 shares during the period. Finally, Barclays PLC grew its position in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares during the period. 79.42% of the stock is currently owned by institutional investors.

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.