Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Price Target at $3.62

Akoya Biosciences, Inc. (NASDAQ:AKYA) has earned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $3.49.

Several equities analysts have recently commented on the company. Piper Sandler cut their price target on Akoya Biosciences from $2.40 to $1.65 and set a “neutral” rating on the stock in a research note on Monday. Stephens reissued an “equal weight” rating and set a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

Akoya Biosciences Trading Down 4.8 %

Shares of AKYA opened at $1.19 on Wednesday. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The firm has a market capitalization of $59.31 million, a price-to-earnings ratio of -1.01 and a beta of 1.33. The company has a 50-day moving average of $1.63 and a 200 day moving average of $2.32. Akoya Biosciences has a 1-year low of $1.01 and a 1-year high of $4.65.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after purchasing an additional 18,361 shares during the last quarter. Barclays PLC boosted its position in shares of Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares in the last quarter. SG Americas Securities LLC purchased a new position in Akoya Biosciences during the 4th quarter worth $28,000. SVB Wealth LLC acquired a new position in Akoya Biosciences during the 4th quarter valued at about $1,180,000. Finally, Intech Investment Management LLC purchased a new stake in Akoya Biosciences in the fourth quarter valued at about $27,000. Institutional investors own 79.42% of the company’s stock.

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.