Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Recommendation of “Hold” by Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating. The average 12 month price objective among analysts that have covered the stock in the last year is $3.21.

Several research firms recently commented on AKYA. Stephens reaffirmed an “equal weight” rating and set a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. Piper Sandler reduced their price objective on Akoya Biosciences from $2.40 to $1.65 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, Canaccord Genuity Group lowered their target price on Akoya Biosciences from $3.50 to $1.80 and set a “hold” rating for the company in a research note on Tuesday, April 29th.

Hedge Funds Weigh In On Akoya Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of AKYA. Intech Investment Management LLC bought a new stake in Akoya Biosciences in the fourth quarter valued at $27,000. SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences in the 4th quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Akoya Biosciences during the 4th quarter valued at about $31,000. Bank of America Corp DE increased its position in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after buying an additional 8,258 shares during the period. Finally, Barclays PLC raised its stake in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares in the last quarter. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Stock Up 0.8 %

AKYA opened at $1.22 on Friday. The business’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $2.16. Akoya Biosciences has a 52 week low of $1.01 and a 52 week high of $4.65. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The stock has a market cap of $60.80 million, a PE ratio of -1.03 and a beta of 1.33.

Akoya Biosciences (NASDAQ:AKYA) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $21.34 million for the quarter, compared to the consensus estimate of $21.34 million. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. As a group, research analysts expect that Akoya Biosciences will post -0.96 earnings per share for the current fiscal year.

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.