Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Decreases By 30.8%

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 2,490,000 shares, a decrease of 30.8% from the February 28th total of 3,600,000 shares. Based on an average trading volume of 639,800 shares, the short-interest ratio is currently 3.9 days. Currently, 12.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AKYA shares. Stephens restated an “equal weight” rating and issued a $1.80 price target (down previously from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.62.

Akoya Biosciences Trading Down 4.0 %

NASDAQ AKYA opened at $1.43 on Monday. Akoya Biosciences has a 52 week low of $1.39 and a 52 week high of $4.69. The company has a 50 day moving average price of $2.11 and a 200 day moving average price of $2.47. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The firm has a market cap of $71.24 million, a PE ratio of -1.21 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. As a group, sell-side analysts forecast that Akoya Biosciences will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Akoya Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SVB Wealth LLC acquired a new position in Akoya Biosciences during the 4th quarter valued at approximately $1,180,000. Deutsche Bank AG grew its holdings in shares of Akoya Biosciences by 404.1% during the fourth quarter. Deutsche Bank AG now owns 54,788 shares of the company’s stock valued at $125,000 after buying an additional 43,920 shares during the last quarter. Northern Trust Corp increased its position in shares of Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company’s stock valued at $573,000 after acquiring an additional 39,799 shares during the period. JPMorgan Chase & Co. increased its position in shares of Akoya Biosciences by 295.4% in the 4th quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock valued at $111,000 after acquiring an additional 36,093 shares during the period. Finally, Barclays PLC raised its stake in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after acquiring an additional 30,095 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

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.