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

Akoya Biosciences, Inc. (NASDAQ:AKYA) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $6.56.

AKYA has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Craig Hallum decreased their price objective on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC bought a new position in Akoya Biosciences in the 1st quarter worth about $2,724,000. Vanguard Group Inc. boosted its holdings in shares of Akoya Biosciences by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after purchasing an additional 46,131 shares during the period. Bank of New York Mellon Corp grew its stake in Akoya Biosciences by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after purchasing an additional 9,429 shares in the last quarter. Regal Investment Advisors LLC increased its holdings in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares during the period. Finally, GSA Capital Partners LLP raised its position in Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares in the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Stock Down 1.6 %

NASDAQ AKYA opened at $3.17 on Friday. The stock has a 50 day moving average price of $2.84 and a 200-day moving average price of $2.67. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. The company has a market capitalization of $156.92 million, a P/E ratio of -2.58 and a beta of 1.34.

About Akoya Biosciences

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.