Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 20.7% in December

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 1,810,000 shares, an increase of 20.7% from the November 30th total of 1,500,000 shares. Approximately 9.1% of the shares of the stock are short sold. Based on an average trading volume of 229,100 shares, the days-to-cover ratio is currently 7.9 days.

Akoya Biosciences Trading Down 0.8 %

NASDAQ AKYA traded down $0.02 on Monday, reaching $2.37. The stock had a trading volume of 70,575 shares, compared to its average volume of 236,613. 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 stock has a fifty day moving average price of $2.55 and a two-hundred day moving average price of $2.52. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The firm has a market capitalization of $117.46 million, a price-to-earnings ratio of -2.01 and a beta of 1.22.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of AKYA. Regal Investment Advisors LLC boosted its stake in shares of 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 purchasing an additional 7,340 shares during the period. Barclays PLC grew its stake in shares of Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after acquiring an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of 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 acquiring an additional 9,429 shares during the period. GSA Capital Partners LLP raised its stake in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after acquiring an additional 144,903 shares in the last quarter. Finally, State Street Corp grew its stake in Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after purchasing an additional 18,361 shares in the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on AKYA. Canaccord Genuity Group reduced their price objective on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a research note on Friday, November 15th. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Akoya Biosciences has a consensus rating of “Hold” and an average target price of $5.43.

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.