Akoya Biosciences (NASDAQ:AKYA) Receives Equal Weight Rating from Stephens

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “equal weight” rating reiterated by equities researchers at Stephens in a note issued to investors on Tuesday,Benzinga reports. They currently have a $1.80 price objective on the stock, down from their previous price objective of $3.50. Stephens’ target price suggests a potential upside of 24.14% from the stock’s previous close.

A number of other equities analysts have also issued reports on AKYA. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price for the company. in a research note on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.62.

Akoya Biosciences Price Performance

Shares of AKYA stock opened at $1.45 on Tuesday. Akoya Biosciences has a 52-week low of $1.39 and a 52-week high of $4.89. The stock has a 50 day moving average price of $2.17 and a 200 day moving average price of $2.49. The firm has a market capitalization of $72.23 million, a P/E ratio of -1.23 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). The business had revenue of $21.34 million during the quarter, compared to the consensus estimate 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 predict that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in shares of Akoya Biosciences by 39.6% in the 4th 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 period. Paragon Associates & Paragon Associates II Joint Venture raised its holdings in Akoya Biosciences by 1.4% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock valued at $1,834,000 after acquiring an additional 11,000 shares in the last quarter. Intech Investment Management LLC purchased a new position in Akoya Biosciences in the fourth quarter worth approximately $27,000. SG Americas Securities LLC purchased a new position in Akoya Biosciences in the fourth quarter worth approximately $28,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Akoya Biosciences during the 4th quarter worth approximately $31,000. 79.42% of the stock is owned by institutional investors and hedge funds.

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.