Renaissance Technologies LLC Has $52,000 Holdings in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Renaissance Technologies LLC cut its holdings in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 56.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,200 shares of the company’s stock after selling 28,500 shares during the period. Renaissance Technologies LLC’s holdings in Akoya Biosciences were worth $52,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Silvercrest Asset Management Group LLC bought a new position in Akoya Biosciences in the 1st quarter valued at $2,724,000. Vanguard Group Inc. boosted its position in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after buying an additional 9,429 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors.

Akoya Biosciences Trading Up 6.7 %

NASDAQ:AKYA opened at $3.20 on Tuesday. Akoya Biosciences, Inc. has a twelve month low of $1.88 and a twelve 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 business has a 50 day moving average price of $2.60 and a two-hundred day moving average price of $2.82. The company has a market cap of $158.04 million, a P/E ratio of -2.18 and a beta of 1.36.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.27) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.27). Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. The firm had revenue of $23.16 million during the quarter, compared to the consensus estimate of $23.61 million. During the same quarter in the prior year, the firm posted ($0.51) EPS. As a group, analysts expect that Akoya Biosciences, Inc. will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AKYA. JPMorgan Chase & Co. lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. BTIG Research lowered Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Piper Sandler reduced their price target on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Craig Hallum reduced their price target on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $4.00 to $3.00 in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.56.

Akoya Biosciences 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.