Akoya Biosciences (NASDAQ:AKYA) Given New $1.08 Price Target at Canaccord Genuity Group

Akoya Biosciences (NASDAQ:AKYA) had its price target reduced by Canaccord Genuity Group from $1.80 to $1.08 in a research note issued to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other research analysts have also issued reports on the company. Stephens restated an “equal weight” rating and issued a $1.80 price target (down from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Piper Sandler reduced their price target on Akoya Biosciences from $2.40 to $1.65 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, Akoya Biosciences has a consensus rating of “Hold” and an average target price of $2.51.

Akoya Biosciences Stock Up 1.9%

NASDAQ AKYA opened at $1.05 on Monday. The stock has a fifty day moving average of $1.27 and a 200-day moving average of $2.02. The stock has a market capitalization of $52.37 million, a P/E ratio of -0.89 and a beta of 1.34. Akoya Biosciences has a 52 week low of $0.93 and a 52 week high of $3.42. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.03). Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. The company had revenue of $16.64 million during the quarter, compared to the consensus estimate of $20.19 million. On average, equities research analysts forecast that Akoya Biosciences will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Paragon Associates & Paragon Associates II Joint Venture grew its holdings in Akoya Biosciences by 1.4% during the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after acquiring an additional 11,000 shares during the period. SVB Wealth LLC acquired a new stake in shares of Akoya Biosciences in the 4th quarter valued at about $1,180,000. Nuveen LLC acquired a new stake in shares of Akoya Biosciences in the 1st quarter valued at about $547,000. Northern Trust Corp grew its stake in shares of Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after buying an additional 39,799 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Akoya Biosciences in the 1st quarter valued at about $142,000. 79.42% of the stock is currently owned by 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.