Analysts Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $5.43

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $5.43.

Several research analysts have recently issued reports on AKYA shares. Canaccord Genuity Group lowered their price target on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 target price (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price target for the stock from $7.00 to $5.00 in a report on Friday, November 15th.

Akoya Biosciences Stock Performance

Shares of Akoya Biosciences stock opened at $2.43 on Monday. The firm has a market capitalization of $120.44 million, a PE ratio of -2.06 and a beta of 1.22. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The firm’s 50 day moving average is $2.50 and its 200 day moving average is $2.52. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.31.

Hedge Funds Weigh In On Akoya Biosciences

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its position in Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares during the period. Barclays PLC boosted its stake in shares of Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after purchasing an additional 30,095 shares during the last quarter. State Street Corp increased its position in shares of Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after buying an additional 18,361 shares during the period. Bank of New York Mellon Corp raised its stake in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after buying an additional 7,340 shares during the period. 79.42% of the stock is currently owned by institutional investors.

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.