Kent Lake Capital LLC Trims Stock Position in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Kent Lake Capital LLC lowered its stake in Akoya Biosciences, Inc. (NASDAQ:AKYA - Free Report) by 84.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,835 shares of the company's stock after selling 629,686 shares during the quarter. Kent Lake Capital LLC owned 0.24% of Akoya Biosciences worth $570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC purchased a new stake in Akoya Biosciences in the fourth quarter worth approximately $54,000. Northern Trust Corp boosted its holdings in Akoya Biosciences by 19.6% in the fourth quarter. Northern Trust Corp now owns 219,676 shares of the company's stock worth $1,072,000 after purchasing an additional 35,928 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Akoya Biosciences by 291.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company's stock worth $51,000 after purchasing an additional 7,746 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Akoya Biosciences by 176.0% in the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company's stock worth $564,000 after purchasing an additional 73,737 shares during the last quarter. Finally, Stifel Financial Corp purchased a new stake in Akoya Biosciences in the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 79.42% of the company's stock.

Insider Buying and Selling at Akoya Biosciences

In other Akoya Biosciences news, CEO Brian Mckelligon sold 7,500 shares of Akoya Biosciences stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $4.97, for a total value of $37,275.00. Following the sale, the chief executive officer now directly owns 231,868 shares in the company, valued at approximately $1,152,383.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

Akoya Biosciences Price Performance

NASDAQ AKYA traded up $0.14 on Friday, reaching $4.36. The company had a trading volume of 348,838 shares, compared to its average volume of 153,276. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $214.25 million, a PE ratio of -2.95 and a beta of 1.48. The firm's 50 day moving average price is $5.23 and its 200 day moving average price is $4.66. Akoya Biosciences, Inc. has a 12 month low of $3.04 and a 12 month high of $8.80.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.05. The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $26.12 million. Akoya Biosciences had a negative net margin of 65.53% and a negative return on equity of 110.24%. During the same period in the previous year, the firm posted ($0.50) EPS. As a group, equities analysts predict that Akoya Biosciences, Inc. will post -0.86 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on AKYA shares. JPMorgan Chase & Co. dropped their price target on shares of Akoya Biosciences from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 6th. UBS Group lifted their price target on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Canaccord Genuity Group reiterated a "buy" rating and set a $10.00 price target on shares of Akoya Biosciences in a research note on Tuesday, March 5th. Finally, Guggenheim started coverage on shares of Akoya Biosciences in a research note on Thursday, December 14th. They set a "neutral" rating on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $9.07.

Akoya Biosciences Profile

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research in North America, the Asia Pacific, Europe, the Middle East, and Africa. The company offers PhenoCycler instrument, a compact bench-top fluidics system that integrates with a companion microscope to automate image acquisition; and PhenoImager platform that enables researchers to visualize, analyze, quantify, and phenotype cells in situ, in fresh frozen or FFPE tissue sections, and tissue microarrays utilizing an automated and high-throughput workflow.