Akoya Biosciences (AKYA) Expected to Announce Quarterly Earnings on Monday

Akoya Biosciences (NASDAQ:AKYA) is anticipated to post its quarterly earnings results after the market closes on Monday, March 31st. Analysts expect Akoya Biosciences to post earnings of ($0.16) per share and revenue of $21.34 million for the quarter.

Akoya Biosciences (NASDAQ:AKYA) last announced its quarterly earnings results on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The firm had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. On average, analysts expect Akoya Biosciences to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Akoya Biosciences Stock Performance

Akoya Biosciences stock opened at $1.43 on Friday. The business has a 50 day moving average of $2.11 and a 200-day moving average of $2.47. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. Akoya Biosciences has a 1 year low of $1.39 and a 1 year high of $4.69. The company has a market capitalization of $71.24 million, a P/E ratio of -1.21 and a beta of 1.32.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Akoya Biosciences stock. Bank of America Corp DE boosted its holdings in Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the quarter. Bank of America Corp DE owned about 0.06% of Akoya Biosciences worth $67,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AKYA. Canaccord Genuity Group lowered shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Stephens reaffirmed an “equal weight” rating and set a $1.80 target price (down from $3.50) on shares of Akoya Biosciences in a report on Tuesday. Finally, 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 note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.62.

Akoya Biosciences Company 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.