Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Average Recommendation of "Hold" from Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have covered the stock in the last year is $3.21.

A number of equities analysts recently commented on AKYA shares. Stephens reaffirmed an "equal weight" rating and set a $1.80 price target (down from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Piper Sandler lowered their target price on shares of Akoya Biosciences from $2.40 to $1.65 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Canaccord Genuity Group cut their price target 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Intech Investment Management LLC bought a new position in Akoya Biosciences in the fourth quarter valued at approximately $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences in the 4th quarter valued at $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences in the 4th quarter valued at $31,000. Bank of America Corp DE raised its holdings in shares of Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company's stock worth $67,000 after buying an additional 8,258 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Akoya Biosciences by 131.7% during the 1st quarter. Rhumbline Advisers now owns 74,255 shares of the company's stock worth $103,000 after buying an additional 42,204 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Akoya Biosciences Stock Performance

AKYA stock traded down $0.01 during mid-day trading on Friday, hitting $1.12. 124,884 shares of the company were exchanged, compared to its average volume of 350,458. Akoya Biosciences has a 1-year low of $1.01 and a 1-year high of $4.65. The business has a 50 day simple moving average of $1.36 and a 200-day simple moving average of $2.13. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $55.86 million, a PE ratio of -0.95 and a beta of 1.34.

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

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.