Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.56.

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. JPMorgan Chase & Co. downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Finally, Craig Hallum reduced their price objective on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th.

Akoya Biosciences Price Performance

Shares of AKYA stock opened at $3.13 on Wednesday. The firm has a market capitalization of $154.58 million, a price-to-earnings ratio of -2.13 and a beta of 1.36. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The company has a quick ratio of 1.98, a current ratio of 2.73 and a debt-to-equity ratio of 3.43. The firm has a fifty day moving average of $2.63 and a 200-day moving average of $2.81.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.27). The firm had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. During the same period in the previous year, the firm earned ($0.51) earnings per share. On average, equities research analysts forecast that Akoya Biosciences will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Akoya Biosciences

A number of large investors have recently modified their holdings of the business. Silvercrest Asset Management Group LLC bought a new stake in Akoya Biosciences during the first quarter worth about $2,724,000. Vanguard Group Inc. increased its position in shares of Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after purchasing an additional 9,429 shares during the last quarter. Finally, Regal Investment Advisors LLC raised its stake in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares in the last quarter. 79.42% of the stock is currently 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.