Aktis Oncology $AKTS Shares Purchased by BlackRock Inc.

Key Points

• BlackRock increased its Aktis Oncology stake by 7.9% in the second quarter, acquiring 166,231 additional shares and bringing its holdings to 2.28 million shares, or about 4.27% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $35.00, despite one downgrade to “sell.” AKTS opened at $25.78 and has traded between $14.72 and $34.19 over the past year.
• Aktis Oncology reported a quarterly loss of $0.44 per share, slightly missing estimates, while revenue of $3.38 million exceeded expectations. Director Ken Herrmann also sold shares worth approximately $119,263, reducing his direct ownership by 58.07%.

BlackRock Inc. raised its stake in Aktis Oncology (NASDAQ:AKTS - Free Report) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,278,358 shares of the technology company's stock after purchasing an additional 166,231 shares during the quarter. BlackRock Inc. owned about 4.27% of Aktis Oncology worth $73,431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AKTS. Bank of New York Mellon Corp raised its stake in shares of Aktis Oncology by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company's stock valued at $1,587,000 after acquiring an additional 6,349 shares during the period. Deutsche Bank AG boosted its position in Aktis Oncology by 49.3% during 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. Finally, State of Wyoming acquired a new stake in Aktis Oncology in the 2nd quarter valued at $32,000. 28.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Aktis Oncology

In related news, Director Ken Herrmann sold 4,856 shares of the company's 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Aktis Oncology from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. HC Wainwright increased their price target on Aktis Oncology from $33.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Wedbush started coverage on Aktis Oncology in a report on Wednesday, August 19th. They set an "outperform" rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Aktis Oncology from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets started coverage on shares of Aktis Oncology in a research note on Tuesday, August 18th. They issued an "outperform" rating and a $37.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Aktis Oncology currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Aktis Oncology Price Performance

AKTS opened at $25.78 on Monday. The firm has a market cap of $1.39 billion and a PE ratio of -31.44. The business has a fifty day simple moving average of $25.81 and a 200-day simple moving average of $21.52. Aktis Oncology has a fifty-two week low of $14.72 and a fifty-two week high of $34.19.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last released its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.01). The firm had revenue of $3.38 million during the quarter, compared to the consensus estimate of $2.70 million. On average, equities research analysts anticipate that Aktis Oncology will post -1.8 EPS for the current fiscal year.

About Aktis Oncology

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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