Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Consensus Recommendation of "Hold" by Brokerages

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 stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have covered the stock in the last year is $2.51.

A number of research analysts have recently issued reports on AKYA shares. Canaccord Genuity Group cut their target price on shares of Akoya Biosciences from $1.80 to $1.08 and set a "hold" rating for the company in a research note on Monday, May 19th. Stephens reiterated an "equal weight" rating and issued a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Finally, Piper Sandler cut their target price on shares of Akoya Biosciences from $2.40 to $1.65 and set a "neutral" rating for the company in a research note on Monday, April 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AKYA. Intech Investment Management LLC acquired a new position in Akoya Biosciences during the 4th quarter worth $27,000. Price T Rowe Associates Inc. MD acquired a new position in Akoya Biosciences during the 4th quarter worth $31,000. AQR Capital Management LLC lifted its holdings in Akoya Biosciences by 128.5% during the 1st quarter. AQR Capital Management LLC now owns 25,257 shares of the company's stock worth $35,000 after buying an additional 14,203 shares in the last quarter. Invesco Ltd. acquired a new position in Akoya Biosciences during the 1st quarter worth $63,000. Finally, Bank of America Corp DE lifted its holdings in 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. Institutional investors own 79.42% of the company's stock.

Akoya Biosciences Price Performance

NASDAQ AKYA traded up $0.05 during trading on Monday, reaching $1.33. 434,325 shares of the company traded hands, compared to its average volume of 385,383. The company has a debt-to-equity ratio of 10.12, a quick ratio of 0.40 and a current ratio of 0.61. The stock's 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.78. The company has a market cap of $66.43 million, a price-to-earnings ratio of -1.37 and a beta of 1.35. Akoya Biosciences has a 1-year low of $0.93 and a 1-year high of $3.42.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.03). The company had revenue of $16.64 million for the quarter, compared to analyst estimates of $20.19 million. Akoya Biosciences had a negative net margin of 59.44% and a negative return on equity of 487.85%. As a group, analysts anticipate that Akoya Biosciences will post -0.96 EPS for the current year.

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.