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

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.07.

A number of research firms have weighed in on AKYA. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price objective on shares of Akoya Biosciences in a research note on Tuesday, March 5th. JPMorgan Chase & Co. reduced their price objective on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 6th. Finally, UBS Group lifted their price objective on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th.

Akoya Biosciences Stock Down 2.3 %

Shares of NASDAQ AKYA opened at $3.81 on Wednesday. Akoya Biosciences has a 12-month low of $3.04 and a 12-month high of $8.80. The stock’s fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $4.64. The company has a current ratio of 3.45, a quick ratio of 2.94 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $187.22 million, a PE ratio of -2.57 and a beta of 1.48.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, March 4th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. The firm had revenue of $26.49 million during the quarter, compared to analyst estimates of $26.12 million. During the same quarter in the prior year, the business posted ($0.50) EPS. As a group, analysts expect that Akoya Biosciences will post -0.86 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brian Mckelligon sold 7,500 shares of Akoya Biosciences stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $4.97, for a total value of $37,275.00. Following the sale, the chief executive officer now directly owns 231,868 shares in the company, valued at approximately $1,152,383.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Akoya Biosciences by 10,169.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after buying an additional 6,000 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Akoya Biosciences by 5.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after buying an additional 7,200 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Akoya Biosciences by 291.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after buying an additional 7,746 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Akoya Biosciences by 8.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock worth $618,000 after buying an additional 10,233 shares during the last quarter. Finally, SVB Wealth LLC boosted its holdings in shares of Akoya Biosciences by 3.1% during the 3rd quarter. SVB Wealth LLC now owns 515,317 shares of the company’s stock worth $2,396,000 after purchasing an additional 15,400 shares during the last quarter. 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.