Akoya Biosciences, Inc. to Post Q2 2024 Earnings of ($0.26) Per Share, Capital One Financial Forecasts (NASDAQ:AKYA)

Akoya Biosciences, Inc. (NASDAQ:AKYA) – Capital One Financial issued their Q2 2024 earnings per share (EPS) estimates for Akoya Biosciences in a research report issued to clients and investors on Thursday, April 11th. Capital One Financial analyst T. Chiang expects that the company will earn ($0.26) per share for the quarter. The consensus estimate for Akoya Biosciences’ current full-year earnings is ($0.86) per share. Capital One Financial also issued estimates for Akoya Biosciences’ Q3 2024 earnings at ($0.20) EPS.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. The company had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.12 million. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. During the same period in the prior year, the firm earned ($0.50) earnings per share.

Several other equities research analysts have also recently weighed in on AKYA. JPMorgan Chase & Co. reduced their price target on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. UBS Group increased their target price on Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of Akoya Biosciences in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Akoya Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $9.07.

Akoya Biosciences Price Performance

Shares of AKYA stock opened at $4.13 on Monday. The stock has a market cap of $202.95 million, a price-to-earnings ratio of -2.79 and a beta of 1.48. The business’s fifty day moving average is $5.13 and its 200 day moving average is $4.65. Akoya Biosciences has a twelve month low of $3.04 and a twelve month high of $8.80. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41.

Insider Activity at Akoya Biosciences

In related news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $4.97, for a total transaction of $37,275.00. Following the sale, the chief executive officer now directly owns 231,868 shares of the company’s stock, valued at $1,152,383.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors have recently modified their holdings of AKYA. Nisa Investment Advisors LLC lifted its holdings in Akoya Biosciences by 10,169.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock valued at $30,000 after acquiring an additional 6,000 shares during the period. UBS Group AG lifted its holdings in Akoya Biosciences by 154.9% in the first quarter. UBS Group AG now owns 4,158 shares of the company’s stock valued at $34,000 after acquiring an additional 2,527 shares during the period. Lazard Asset Management LLC bought a new position in Akoya Biosciences in the fourth quarter valued at about $36,000. Barclays PLC lifted its holdings in Akoya Biosciences by 533.0% in the fourth quarter. Barclays PLC now owns 4,235 shares of the company’s stock valued at $40,000 after acquiring an additional 3,566 shares during the period. Finally, Citigroup Inc. bought a new position in Akoya Biosciences in the second quarter valued at about $40,000. 79.42% of the stock is owned by hedge funds and other 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.