Akoya Biosciences (NASDAQ:AKYA) Releases Earnings Results, Misses Estimates By $0.02 EPS

Akoya Biosciences (NASDAQ:AKYA) released its quarterly earnings results on Monday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02), Zacks reports. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%.

Akoya Biosciences Price Performance

Akoya Biosciences stock traded up $0.06 on Monday, reaching $1.56. The company’s stock had a trading volume of 344,100 shares, compared to its average volume of 345,070. 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 company has a market cap of $77.33 million, a price-to-earnings ratio of -1.32 and a beta of 1.32. The business’s fifty day moving average price is $2.34 and its 200 day moving average price is $2.53. Akoya Biosciences has a twelve month low of $1.43 and a twelve month high of $5.16.

Wall Street Analyst Weigh In

AKYA has been the subject of a number of research reports. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective for the company. in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.98.

Hedge Funds Weigh In On Akoya Biosciences

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE lifted its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,092 shares of the company’s stock after acquiring an additional 8,258 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 at the end of the most recent reporting period. 79.42% of the stock is owned by institutional investors.

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.