Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $3.62 Consensus Target Price from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) has been given an average rating of "Hold" by the seven research firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.62.

Several equities analysts recently commented on the company. Stephens reissued an "equal weight" rating and issued a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. Canaccord Genuity Group downgraded Akoya Biosciences from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Piper Sandler cut Akoya Biosciences from an "overweight" rating to a "neutral" rating and set a $2.40 target price for the company. in a research note on Wednesday, March 5th.

Hedge Funds Weigh In On Akoya Biosciences

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

Akoya Biosciences Stock Up 9.7 %

AKYA stock traded up $0.11 during mid-day trading on Wednesday, reaching $1.24. The company had a trading volume of 106,980 shares, compared to its average volume of 350,354. The firm has a fifty day simple moving average of $1.69 and a 200 day simple moving average of $2.34. 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 capitalization of $61.80 million, a price-to-earnings ratio of -1.05 and a beta of 1.33. Akoya Biosciences has a fifty-two week low of $1.01 and a fifty-two week high of $4.65.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last issued its 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 net margin of 66.77% and a negative return on equity of 162.99%. The firm had revenue of $21.34 million during the quarter, compared to analyst estimates of $21.34 million. Analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current fiscal 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.