Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $2.51 Average Target Price from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) has earned a consensus recommendation of "Hold" from the seven brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have covered the stock in the last year is $2.51.

Several research firms have recently weighed in on AKYA. Stephens reaffirmed an "equal weight" rating and set a $1.80 price target (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Canaccord Genuity Group decreased their price target 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. Finally, Piper Sandler decreased their price target 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.

Hedge Funds Weigh In On Akoya Biosciences

A number of large investors have recently made changes to their positions in AKYA. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter valued at $28,000. SVB Wealth LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter valued at $1,180,000. Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter valued at $27,000. JPMorgan Chase & Co. increased its position in shares of Akoya Biosciences by 295.4% in the 4th quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company's stock valued at $111,000 after acquiring an additional 36,093 shares during the period. Finally, Paragon Associates & Paragon Associates II Joint Venture increased its position in shares of Akoya Biosciences by 1.4% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company's stock valued at $1,834,000 after acquiring an additional 11,000 shares during the period. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA remained flat at $1.25 during trading hours on Thursday. The company's stock had a trading volume of 287,716 shares, compared to its average volume of 389,372. Akoya Biosciences has a fifty-two week low of $0.93 and a fifty-two week high of $3.42. The firm has a 50-day simple moving average of $1.20 and a two-hundred day simple moving average of $1.89. The firm has a market cap of $62.34 million, a price-to-earnings ratio of -1.06 and a beta of 1.34. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.03). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The business had revenue of $16.64 million for the quarter, compared to analysts' expectations of $20.19 million. As a group, equities analysts predict 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.