Aktis Oncology (NASDAQ:AKTS) Trading Down 7.3% - Should You Sell?

Key Points

• Aktis Oncology shares fell 7.3% to about $25.07 in Tuesday trading, with volume below the stock’s average. The company has a $1.34 billion market capitalization and trades at a negative P/E ratio.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $35.00; targets from several firms range from $35 to $40, though one source downgraded the stock to “sell.”
• Aktis reported a quarterly loss of $0.44 per share, slightly missing estimates, while revenue of $3.38 million exceeded expectations. A director also sold 4,856 shares, while institutional ownership stands at 28.84%.

Aktis Oncology (NASDAQ:AKTS - Get Free Report)'s share price was down 7.3% during trading on Tuesday . The company traded as low as $25.13 and last traded at $25.07. Approximately 196,168 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 332,923 shares. The stock had previously closed at $27.05.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AKTS. HC Wainwright increased their price objective on Aktis Oncology from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Raymond James Financial started coverage on shares of Aktis Oncology in a research note on Monday, June 15th. They issued a "strong-buy" rating and a $40.00 target price on the stock. BMO Capital Markets started coverage on shares of Aktis Oncology in a research report on Tuesday, August 18th. They set an "outperform" rating and a $37.00 price target for the company. Wall Street Zen lowered shares of Aktis Oncology from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Finally, Wedbush started coverage on shares of Aktis Oncology in a research report on Wednesday, August 19th. They issued an "outperform" rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aktis Oncology has a consensus rating of "Moderate Buy" and an average price target of $35.00.

Aktis Oncology Stock Down 8.0%

The firm's fifty day moving average is $25.58 and its two-hundred day moving average is $21.89. The firm has a market cap of $1.34 billion and a P/E ratio of -30.33.

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 firm had revenue of $3.38 million for the quarter, compared to analysts' expectations of $2.70 million. As a group, sell-side analysts forecast that Aktis Oncology will post -1.8 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Aktis Oncology

Several hedge funds have recently made changes to their positions in AKTS. BlackRock Inc. raised its holdings in 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 purchasing an additional 166,231 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Aktis Oncology during the 2nd quarter valued at $9,347,000. Jupiter Topco LLC purchased a new stake in shares of Aktis Oncology in the 2nd quarter worth about $42,359,000. Wellington Management Group LLP bought a new position in shares of Aktis Oncology in the 2nd quarter worth about $63,372,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Aktis Oncology in the 2nd quarter worth about $1,406,000. 28.84% of the stock is currently owned by 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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