Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Price Target at $5.43

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.43.

AKYA has been the topic of a number of recent research reports. Canaccord Genuity Group cut their target price on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, November 15th. Craig Hallum cut shares of Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $3.00 target price (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th.

Institutional Investors Weigh In On Akoya Biosciences

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

Akoya Biosciences Price Performance

AKYA stock opened at $2.12 on Thursday. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The firm has a market capitalization of $105.07 million, a P/E ratio of -1.80 and a beta of 1.22. The business’s 50-day moving average is $2.72 and its two-hundred day moving average is $2.49. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.31.

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.