Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Average Recommendation of “Hold” from Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $3.62.

Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. 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 report on Wednesday, March 5th. Finally, Stephens restated an “equal weight” rating and issued a $1.80 target price (down from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AKYA. Bank of America Corp DE raised its position in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after purchasing an additional 8,258 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its holdings in shares of Akoya Biosciences by 1.4% during 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 during the period. Intech Investment Management LLC acquired a new stake in shares of Akoya Biosciences during the fourth quarter valued at approximately $27,000. SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences in the 4th quarter valued at approximately $28,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Akoya Biosciences during the 4th quarter worth approximately $31,000. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Stock Down 12.0 %

AKYA stock opened at $1.03 on Wednesday. The stock has a market cap of $51.31 million, a PE ratio of -0.87 and a beta of 1.33. The firm’s 50-day simple moving average is $1.82 and its 200 day simple moving average is $2.38. Akoya Biosciences has a fifty-two week low of $1.01 and a fifty-two week high of $4.65. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62.

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

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.