Aktis Oncology (NASDAQ:AKTS) Posts Earnings Results, Meets Expectations

Key Points

• Aktis Oncology met earnings expectations, reporting a quarterly loss of $0.44 per share while revenue of $3.38 million exceeded analyst estimates of $2.14 million.
• Shares traded down 0.9% to $23.79, giving the company a market capitalization of approximately $1.27 billion; the stock has ranged from $14.72 to $34.19 over the past year.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $34.60 price target, although one analyst issued a sell rating. A company director also sold shares, reducing his position by 58.07%.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) posted its earnings results on Thursday. The technology company reported ($0.44) EPS for the quarter, meeting the consensus estimate of ($0.44), reports. The firm had revenue of $3.38 million during the quarter, compared to analyst estimates of $2.14 million.

Aktis Oncology Price Performance

NASDAQ:AKTS traded down $0.21 during trading hours on Thursday, reaching $23.79. 156,314 shares of the company were exchanged, compared to its average volume of 339,686. The business has a 50 day moving average of $24.79 and a 200 day moving average of $21.11. Aktis Oncology has a 1-year low of $14.72 and a 1-year high of $34.19. The company has a market capitalization of $1.27 billion and a P/E ratio of -62.61.

Insiders Place Their Bets

In other news, Director Ken Herrmann sold 4,856 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $24.56, for a total transaction of $119,263.36. Following the completion of the sale, the director directly owned 3,506 shares in the company, valued at approximately $86,107.36. This represents a 58.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on AKTS. Weiss Ratings upgraded Aktis Oncology from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 23rd. Raymond James Financial assumed coverage on Aktis Oncology in a report on Monday, June 15th. They set a "strong-buy" rating and a $40.00 target price for the company. Wall Street Zen cut shares of Aktis Oncology from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Aktis Oncology from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, HC Wainwright raised their price target on shares of Aktis Oncology from $33.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.60.

Aktis Oncology Company Profile

Aktis Oncology NASDAQ: AKTS is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company's activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.

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