Akoya Biosciences (NASDAQ:AKYA) Releases Earnings Results, Misses Expectations By $0.03 EPS

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.03), Zacks reports. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%.

Akoya Biosciences Price Performance

Shares of NASDAQ AKYA traded up $0.06 during trading on Monday, hitting $1.16. 305,329 shares of the company were exchanged, compared to its average volume of 351,745. The company has a market cap of $57.86 million, a price-to-earnings ratio of -0.98 and a beta of 1.34. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a 1 year low of $1.01 and a 1 year high of $4.42. The firm's fifty day moving average price is $1.33 and its 200 day moving average price is $2.09.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Akoya Biosciences from $2.40 to $1.65 and set a "neutral" rating for the company in a report on Monday, April 14th. Canaccord Genuity Group reduced their price target on shares of Akoya Biosciences from $3.50 to $1.80 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. Finally, Stephens reissued an "equal weight" rating and issued a $1.80 price target (down from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $3.21.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Akoya Biosciences stock. Bank of America Corp DE lifted its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA - Free Report) by 39.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,092 shares of the company's stock after purchasing an additional 8,258 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Akoya Biosciences worth $67,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 79.42% of the company's stock.

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.

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