Akoya Biosciences (NASDAQ:AKYA) Receives Overweight Rating from Stephens

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They presently have a $3.50 target price on the stock. Stephens’ target price would suggest a potential upside of 143.90% from the company’s current price.

Several other equities analysts have also recently commented on the stock. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target on the stock. in a report on Wednesday, March 5th. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.90.

Akoya Biosciences Stock Down 8.0 %

Shares of NASDAQ:AKYA opened at $1.44 on Tuesday. Akoya Biosciences has a 52 week low of $1.42 and a 52 week high of $5.16. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The company has a market cap of $71.14 million, a PE ratio of -1.23 and a beta of 1.32. The firm has a 50 day simple moving average of $2.32 and a 200 day simple moving average of $2.53.

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

Institutional Investors Weigh In On Akoya Biosciences

Large investors have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after purchasing an additional 18,361 shares during the last quarter. Barclays PLC raised its position in 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 purchasing an additional 30,095 shares in the last quarter. SG Americas Securities LLC bought a new position in Akoya Biosciences during the fourth quarter worth about $28,000. SVB Wealth LLC bought a new stake in shares of Akoya Biosciences in the 4th quarter valued at approximately $1,180,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter worth approximately $27,000. Institutional investors own 79.42% of the company’s stock.

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.