Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Target Price at $3.98

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $3.98.

AKYA has been the subject of several recent research reports. Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target for the company. in a research report on Wednesday, March 5th. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

Institutional Trading of Akoya Biosciences

Hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in shares of Akoya Biosciences in the fourth quarter valued at approximately $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences in the fourth quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Akoya Biosciences in the fourth quarter valued at approximately $31,000. Bank of America Corp DE lifted its position in shares of Akoya Biosciences by 39.6% in the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock valued at $67,000 after buying an additional 8,258 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Performance

Shares of NASDAQ AKYA opened at $1.56 on Friday. The stock has a 50 day moving average price of $2.32 and a 200 day moving average price of $2.53. Akoya Biosciences has a 52 week low of $1.43 and a 52 week high of $5.16. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The stock has a market capitalization of $77.33 million, a PE ratio of -1.32 and a beta of 1.32.

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.