Tidal Investments LLC Acquires New Position in Aktis Oncology $AKTS

Key Points

• Tidal Investments acquired 57,059 Aktis Oncology shares worth approximately $1.84 million, while institutional investors collectively owned 28.84% of the company.
• Aktis Oncology reported a quarterly loss of $0.44 per share, slightly missing estimates, but revenue of $3.38 million exceeded expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $35.62 versus the stock’s reported $22.86 price.

Tidal Investments LLC bought a new position in shares of Aktis Oncology (NASDAQ:AKTS - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 57,059 shares of the technology company's stock, valued at approximately $1,839,000. Tidal Investments LLC owned 0.11% of Aktis Oncology as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Aktis Oncology by 7.9% in the second quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company's stock worth $73,431,000 after acquiring an additional 166,231 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Aktis Oncology in the second quarter valued at $9,347,000. Jupiter Topco LLC acquired a new stake in shares of Aktis Oncology in the second quarter valued at $42,359,000. Wellington Management Group LLP purchased a new position in Aktis Oncology in the second quarter valued at $63,372,000. Finally, Great Lakes Advisors LLC purchased a new position in Aktis Oncology in the second quarter valued at $1,406,000. Hedge funds and other institutional investors own 28.84% of the company's stock.

Aktis Oncology Trading Up 0.7%

Aktis Oncology stock opened at $22.86 on Friday. The company has a fifty day simple moving average of $24.57 and a 200-day simple moving average of $22.12. The stock has a market cap of $1.23 billion and a P/E ratio of -27.88. Aktis Oncology has a 12-month low of $14.72 and a 12-month high of $34.19.

Aktis Oncology (NASDAQ:AKTS - Get Free Report) last posted its earnings results on Thursday, August 13th. The technology company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The company had revenue of $3.38 million during the quarter, compared to analysts' expectations of $2.70 million. As a group, sell-side analysts forecast that Aktis Oncology will post -1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AKTS shares. HC Wainwright upped their price target on Aktis Oncology from $33.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Wedbush began coverage on Aktis Oncology in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $35.00 price objective for the company. Weiss Ratings raised Aktis Oncology from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 23rd. BMO Capital Markets assumed coverage on shares of Aktis Oncology in a research note on Tuesday, August 18th. They set an "outperform" rating and a $37.00 target price on the stock. Finally, Raymond James Financial initiated coverage on shares of Aktis Oncology in a report on Monday, June 15th. They issued a "strong-buy" rating and a $40.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aktis Oncology currently has an average rating of "Moderate Buy" and a consensus target price of $35.62.

Insider Buying and Selling at Aktis Oncology

In other news, Director Ken Herrmann sold 4,856 shares of the firm's stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $24.56, for a total transaction of $119,263.36. Following the sale, the director owned 3,506 shares of the company's stock, valued at approximately $86,107.36. This trade represents a 58.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.30% of the company's stock.

Aktis Oncology Company Profile

Aktis Oncology, Inc is a clinical-stage biotechnology company focused on developing precision cancer treatments. The company's research is centered on targeted alpha therapies, which are designed to deliver highly potent radiation directly to cancer cells while limiting exposure to surrounding healthy tissue.

Aktis Oncology is developing a pipeline of investigational therapies for solid tumors and other cancers. Its programs are intended to use tumor-targeting molecules to selectively transport radioactive payloads to cancer cells, with the goal of improving treatment effectiveness and addressing cancers that may be difficult to treat with conventional approaches.

The company's product candidates remain in development and are subject to clinical, regulatory and commercial risks.

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