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

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2.51.

Several brokerages have issued reports on AKYA. Piper Sandler dropped their price objective on Akoya Biosciences from $2.40 to $1.65 and set a "neutral" rating on the stock in a report on Monday, April 14th. Stephens reissued an "equal weight" rating and issued a $1.80 target price (down from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Finally, Canaccord Genuity Group cut their price target on Akoya Biosciences from $1.80 to $1.08 and set a "hold" rating on the stock in a research report on Monday, May 19th.

Institutional Investors Weigh In On Akoya Biosciences

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Akoya Biosciences during the 4th quarter valued at approximately $27,000. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences in the fourth quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Akoya Biosciences in the fourth quarter valued at approximately $31,000. AQR Capital Management LLC raised its stake in shares of Akoya Biosciences by 128.5% during the first quarter. AQR Capital Management LLC now owns 25,257 shares of the company's stock worth $35,000 after purchasing an additional 14,203 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company's stock worth $67,000 after purchasing an additional 8,258 shares during the period. Institutional investors and hedge funds own 79.42% of the company's stock.

Akoya Biosciences Stock Down 0.4%

Akoya Biosciences stock traded down $0.01 during mid-day trading on Thursday, hitting $1.24. The company had a trading volume of 105,537 shares, compared to its average volume of 389,011. 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 has a 1 year low of $0.93 and a 1 year high of $3.42. The business has a fifty day moving average of $1.20 and a 200 day moving average of $1.92. The stock has a market cap of $61.60 million, a price-to-earnings ratio of -1.05 and a beta of 1.34.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last issued 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 company had revenue of $16.64 million during the quarter, compared to analyst estimates of $20.19 million. On average, sell-side analysts expect that Akoya Biosciences will post -0.96 earnings per share for the current fiscal 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.