Aktis Oncology (NASDAQ:AKTS) Earns Outperform Rating from Wedbush

Key Points

• Wedbush reaffirmed its “Outperform” rating on Aktis Oncology and set a $35 price target, implying 92.27% upside from the previous close. Analysts’ consensus is “Moderate Buy” with an average target of $35.63.
• Aktis Oncology shares fell 1.7% to $18.20, with a market capitalization of approximately $978 million. The stock trades well below its 12-month high of $34.19.
• The company reported a quarterly loss of $0.44 per share, slightly missing estimates, while revenue of $3.38 million exceeded the $2.70 million consensus forecast.

Aktis Oncology (NASDAQ:AKTS - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $35.00 price target on the technology company's stock. Wedbush's target price would indicate a potential upside of 92.27% from the company's previous close.

Several other equities research analysts have also weighed in on AKTS. Oppenheimer initiated coverage on shares of Aktis Oncology in a report on Wednesday, September 9th. They issued an "outperform" rating and a $40.00 target price on the stock. Wall Street Zen lowered shares of Aktis Oncology from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. BMO Capital Markets initiated coverage on shares of Aktis Oncology in a report on Tuesday, August 18th. They issued an "outperform" rating and a $37.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Aktis Oncology from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Aktis Oncology in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Aktis Oncology has a consensus rating of "Moderate Buy" and a consensus target price of $35.63.

Aktis Oncology Stock Down 1.7%

NASDAQ AKTS traded down $0.32 during trading hours on Friday, hitting $18.20. The company's stock had a trading volume of 54,469 shares, compared to its average volume of 351,612. The stock has a fifty day moving average of $23.55 and a 200 day moving average of $22.17. Aktis Oncology has a twelve month low of $14.72 and a twelve month high of $34.19. The firm has a market capitalization of $978.47 million and a P/E ratio of -22.09.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The company had revenue of $3.38 million for the quarter, compared to analyst estimates of $2.70 million. On average, analysts predict that Aktis Oncology will post -1.85 earnings per share for the current year.

Insider Activity at Aktis Oncology

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AKTS. Tidal Investments LLC bought a new position in Aktis Oncology in the second quarter valued at $1,839,000. Squarepoint Ops LLC bought a new position in Aktis Oncology in the second quarter valued at $1,237,000. Readystate Asset Management LP bought a new position in Aktis Oncology in the second quarter valued at $967,000. AXQ Capital LP bought a new position in Aktis Oncology in the second quarter valued at $226,000. Finally, Susquehanna International Group LLP bought a new position in Aktis Oncology in the second quarter valued at $278,000. Institutional investors own 28.84% of the company's stock.

Aktis Oncology Company Profile

Aktis Oncology, Inc is a clinical-stage biopharmaceutical company developing targeted alpha therapies for the treatment of cancer. Its research is focused on creating therapies designed to selectively deliver alpha-particle radiation to tumor cells while limiting exposure to surrounding healthy tissue.

The company's platform uses proprietary tumor-targeting molecules, including engineered miniproteins, to bind specific targets found on cancer cells and transport radioactive payloads to tumors.