Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 18.1% in November

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 1,500,000 shares, a growth of 18.1% from the November 15th total of 1,270,000 shares. Currently, 7.5% of the shares of the company are short sold. Based on an average trading volume of 228,600 shares, the short-interest ratio is currently 6.6 days.

Hedge Funds Weigh In On Akoya Biosciences

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in shares of Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the last quarter. Vanguard Group Inc. grew its stake in Akoya Biosciences by 3.3% in the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares in the last quarter. Barclays PLC increased its holdings in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the last quarter. State Street Corp raised its stake in Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

Akoya Biosciences Stock Down 6.6 %

Shares of NASDAQ AKYA opened at $2.27 on Friday. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.31. The firm’s 50 day moving average price is $2.68 and its 200 day moving average price is $2.49. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The firm has a market cap of $112.50 million, a P/E ratio of -1.92 and a beta of 1.22.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AKYA. Canaccord Genuity Group cut their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and set a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.43.

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.