Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Recommendation of “Hold” by Brokerages

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have given 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.

A number of research firms have recently issued reports on AKYA. Canaccord Genuity Group cut Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price target for the company from $7.00 to $5.00 in a research report on Friday, November 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $3.00 price target (down from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th.

Akoya Biosciences Stock Performance

AKYA opened at $1.82 on Tuesday. The stock has a market cap of $90.22 million, a PE ratio of -1.54 and a beta of 1.23. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a 1 year low of $1.82 and a 1 year high of $6.31. The stock’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.61.

Hedge Funds Weigh In On Akoya Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after purchasing an additional 8,258 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its position in shares of Akoya Biosciences by 1.4% during the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company’s stock worth $1,834,000 after purchasing an additional 11,000 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Akoya Biosciences during the fourth quarter worth about $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences during the fourth quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Akoya Biosciences during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 79.42% of the company’s stock.

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.