Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Expands By 10.3%

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,250,000 shares, an increase of 10.3% from the May 31st total of 2,040,000 shares. Approximately 10.3% of the company’s shares are short sold. Based on an average daily trading volume, of 327,800 shares, the short-interest ratio is currently 6.9 days.

Akoya Biosciences Stock Performance

Shares of NASDAQ:AKYA opened at $2.21 on Tuesday. The business has a 50-day moving average of $2.81 and a two-hundred day moving average of $4.21. The firm has a market capitalization of $109.15 million, a PE ratio of -1.50 and a beta of 1.34. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.07 and a quick ratio of 2.38. Akoya Biosciences has a 12 month low of $1.88 and a 12 month high of $7.68.

Akoya Biosciences (NASDAQ:AKYA) last issued its earnings results on Monday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. The firm had revenue of $18.35 million for the quarter, compared to analysts’ expectations of $24.13 million. As a group, research analysts forecast that Akoya Biosciences will post -0.99 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC boosted its holdings in Akoya Biosciences by 5.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after acquiring an additional 7,200 shares during the period. Kent Lake Capital LLC acquired a new stake in Akoya Biosciences during the 3rd quarter valued at $3,471,000. Polar Capital Holdings Plc increased its stake in Akoya Biosciences by 4.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock worth $7,346,000 after buying an additional 64,286 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Akoya Biosciences by 10,169.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after buying an additional 6,000 shares in the last quarter. Finally, Peddock Capital Advisors LLC boosted its position in Akoya Biosciences by 546.2% in the 4th quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock valued at $1,419,000 after buying an additional 245,728 shares during the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AKYA. Canaccord Genuity Group decreased their target price on shares of Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. BTIG Research decreased their price objective on Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th. UBS Group upped their target price on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. decreased their price target on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 6th. Finally, Morgan Stanley lowered their price target on Akoya Biosciences from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, June 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

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.