Akoya Biosciences (NASDAQ:AKYA) Announces Earnings Results

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The firm had revenue of $16.64 million for the quarter, compared to analyst estimates of $20.19 million.

Akoya Biosciences Trading Up 3.0%

Shares of Akoya Biosciences stock traded up $0.03 during trading hours on Friday, hitting $1.03. The company's stock had a trading volume of 218,794 shares, compared to its average volume of 340,473. Akoya Biosciences has a 12 month low of $0.93 and a 12 month high of $3.42. The stock has a 50 day moving average of $1.28 and a 200 day moving average of $2.03. The company has a market capitalization of $51.37 million, a PE ratio of -0.87 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.

Analyst Ratings Changes

Several research firms have weighed in on AKYA. Canaccord Genuity Group cut their target price on Akoya Biosciences from $3.50 to $1.80 and set a "hold" rating on the stock in a research note on Tuesday, April 29th. 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 research note on Tuesday, March 25th. Finally, Piper Sandler cut their target price on Akoya Biosciences from $2.40 to $1.65 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $2.65.

Institutional Investors Weigh In On Akoya Biosciences

Large investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in shares of Akoya Biosciences by 128.5% in the first quarter. AQR Capital Management LLC now owns 25,257 shares of the company's stock worth $35,000 after acquiring an additional 14,203 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Akoya Biosciences by 39.6% in the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company's stock worth $67,000 after acquiring an additional 8,258 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Akoya Biosciences in the first quarter worth about $63,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Akoya Biosciences by 24.3% in the first quarter. Goldman Sachs Group Inc. now owns 99,780 shares of the company's stock worth $139,000 after acquiring an additional 19,475 shares in the last quarter. 79.42% of the stock is currently owned by institutional investors.

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.