Aktis Oncology (NASDAQ:AKTS) Upgraded to Strong-Buy at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Aktis Oncology to “strong buy.” The analyst consensus remains “Buy,” with an average price target of $35, while other firms have issued targets ranging from $33 to $40.
• Aktis Oncology shares opened at $25.02, with a market capitalization of approximately $1.34 billion and a 52-week range of $14.72 to $34.19.
• The company reported a quarterly loss of $0.44 per share, slightly missing estimates, although revenue of $3.38 million exceeded the $2.70 million consensus forecast. Insiders own 3.30% of shares, while institutional investors own 28.84%.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) was upgraded by research analysts at BMO Capital Markets to a "strong-buy" rating in a research report issued on Tuesday, Marketbeat.com reports.

A number of other brokerages also recently commented on AKTS. Wedbush assumed coverage on shares of Aktis Oncology in a report on Wednesday. They set an "outperform" rating and a $35.00 price target for the company. Wall Street Zen downgraded shares of Aktis Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of Aktis Oncology from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their target price on shares of Aktis Oncology from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial started coverage on Aktis Oncology in a report on Monday, June 15th. They issued a "strong-buy" rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $35.00.

Aktis Oncology Stock Performance

Shares of NASDAQ:AKTS opened at $25.02 on Tuesday. The business's fifty day moving average price is $25.35 and its two-hundred day moving average price is $21.25. The stock has a market cap of $1.34 billion and a PE ratio of -30.51. Aktis Oncology has a one year low of $14.72 and a one year high of $34.19.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The firm had revenue of $3.38 million during the quarter, compared to analyst estimates of $2.70 million. As a group, equities research analysts predict that Aktis Oncology will post -1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aktis Oncology news, Director Ken Herrmann sold 4,856 shares of Aktis Oncology stock in a transaction on Monday, July 20th. The shares were sold at an average price of $24.56, for a total value of $119,263.36. Following the transaction, the director owned 3,506 shares in the company, valued at $86,107.36. This trade represents a 58.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in Aktis Oncology during the second quarter valued at about $32,000. Deutsche Bank AG raised its holdings in shares of Aktis Oncology by 49.3% in the 2nd quarter. Deutsche Bank AG now owns 21,022 shares of the technology company's stock worth $678,000 after purchasing an additional 6,942 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Aktis Oncology in the 2nd quarter worth about $1,406,000. The Manufacturers Life Insurance Company lifted its stake in shares of Aktis Oncology by 2.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company's stock valued at $1,548,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Aktis Oncology by 14.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company's stock worth $1,587,000 after purchasing an additional 6,349 shares during the period. 28.84% of the stock is owned by hedge funds and other institutional investors.

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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