Nisa Investment Advisors LLC Boosts Holdings in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Nisa Investment Advisors LLC increased its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 10,169.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,059 shares of the company’s stock after buying an additional 6,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Akoya Biosciences were worth $30,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC raised its position in Akoya Biosciences by 3.1% in the third quarter. SVB Wealth LLC now owns 515,317 shares of the company’s stock valued at $2,396,000 after purchasing an additional 15,400 shares during the period. Bank of New York Mellon Corp raised its holdings in Akoya Biosciences by 8.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock valued at $618,000 after buying an additional 10,233 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in Akoya Biosciences by 5.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after buying an additional 7,200 shares during the last quarter. Kent Lake Capital LLC purchased a new position in Akoya Biosciences during the third quarter worth about $3,471,000. Finally, Polar Capital Holdings Plc raised its stake in shares of Akoya Biosciences by 4.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock valued at $7,346,000 after acquiring an additional 64,286 shares during the period. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AKYA. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.00 target price on shares of Akoya Biosciences in a report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 6th. Finally, UBS Group increased their price objective on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.07.

Akoya Biosciences Stock Performance

Shares of AKYA stock opened at $3.90 on Tuesday. The company has a market cap of $191.65 million, a P/E ratio of -2.64 and a beta of 1.48. The firm has a fifty day moving average price of $4.89 and a 200 day moving average price of $4.64. The company has a current ratio of 3.45, a quick ratio of 2.94 and a debt-to-equity ratio of 1.41. Akoya Biosciences, Inc. has a 12 month low of $3.04 and a 12 month high of $8.80.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $26.12 million. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. During the same period in the prior year, the firm posted ($0.50) EPS. Sell-side analysts predict that Akoya Biosciences, Inc. will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian Mckelligon sold 7,500 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 231,868 shares in the company, valued at approximately $1,152,383.96. The sale was disclosed in a document filed with the SEC, which is available at this link. 8.50% of the stock is owned by corporate insiders.

About Akoya Biosciences

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.