Piper Sandler Lowers Akouos (NASDAQ:AKUS) Price Target to $18.00

Akouos (NASDAQ:AKUS – Get Rating) had its target price trimmed by Piper Sandler from $40.00 to $18.00 in a research note published on Tuesday morning, The Fly reports.

Separately, Zacks Investment Research lowered Akouos from a hold rating to a sell rating in a research note on Monday, May 9th.

NASDAQ AKUS opened at $3.27 on Tuesday. The firm has a market cap of $113.23 million, a price-to-earnings ratio of -1.16 and a beta of 1.58. The business has a 50-day moving average price of $3.92 and a 200-day moving average price of $6.16. Akouos has a twelve month low of $2.55 and a twelve month high of $15.26.

Akouos (NASDAQ:AKUS – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.06). On average, sell-side analysts forecast that Akouos will post -3.02 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its stake in Akouos by 2,160.6% during the first quarter. Captrust Financial Advisors now owns 8,500 shares of the company’s stock valued at $40,000 after buying an additional 8,124 shares during the last quarter. Royal Bank of Canada boosted its stake in Akouos by 107.5% during the third quarter. Royal Bank of Canada now owns 3,630 shares of the company’s stock valued at $42,000 after buying an additional 1,881 shares during the last quarter. Citigroup Inc. boosted its stake in Akouos by 47.2% during the fourth quarter. Citigroup Inc. now owns 7,167 shares of the company’s stock valued at $60,000 after buying an additional 2,297 shares during the last quarter. Gyon Technologies Capital Management LP bought a new position in Akouos during the first quarter valued at approximately $65,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Akouos during the third quarter valued at approximately $80,000. 98.06% of the stock is owned by institutional investors.

About Akouos (Get Rating)

Akouos, Inc, a precision genetic medicine company, developing gene therapies to restore, improve, and preserve physiologic hearing for individuals. The company's precision genetic medicine platform incorporates a proprietary adeno-associated viral vector library and a novel delivery approach. Its lead product candidate is AK-OTOF, a gene therapy for the treatment of hearing loss due to mutations in the OTOF gene.

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