Akoya Biosciences (NASDAQ:AKYA) Announces Quarterly Earnings Results

Akoya Biosciences (NASDAQ:AKYA) posted its earnings results on Monday. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02), Zacks reports. The firm had revenue of $21.34 million during the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%.

Akoya Biosciences Stock Up 3.8 %

Shares of AKYA stock opened at $1.62 on Wednesday. The firm has a market capitalization of $80.31 million, a P/E ratio of -1.37 and a beta of 1.32. The firm’s fifty day moving average price is $2.30 and its two-hundred day moving average price is $2.52. Akoya Biosciences has a 1 year low of $1.39 and a 1 year high of $5.16. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AKYA shares. Piper Sandler lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a report on Wednesday, March 5th. Stephens reiterated an “overweight” rating and issued a $3.50 target price on shares of Akoya Biosciences in a report on Tuesday. Finally, Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.90.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Akoya Biosciences stock. Bank of America Corp DE lifted its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the period. Bank of America Corp DE owned 0.06% of Akoya Biosciences worth $67,000 at the end of the most recent quarter. Institutional investors 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.