Bank of New York Mellon Corp Raises Stock Holdings in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Bank of New York Mellon Corp raised its position in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,468 shares of the company’s stock after purchasing an additional 9,429 shares during the quarter. Bank of New York Mellon Corp’s holdings in Akoya Biosciences were worth $158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC bought a new stake in Akoya Biosciences during the first quarter valued at approximately $2,724,000. CIBC Asset Management Inc lifted its position in Akoya Biosciences by 176.0% during the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock valued at $564,000 after purchasing an additional 73,737 shares in the last quarter. Vanguard Group Inc. increased its holdings in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after acquiring an additional 46,131 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its holdings in Akoya Biosciences by 28.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock valued at $3,293,000 after purchasing an additional 149,164 shares in the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Price Performance

NASDAQ:AKYA opened at $2.71 on Friday. The business’s 50-day moving average is $2.48 and its 200 day moving average is $3.01. Akoya Biosciences, Inc. has a 12 month low of $1.88 and a 12 month high of $6.31. The company has a market capitalization of $134.15 million, a P/E ratio of -1.84 and a beta of 1.35. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.27). The business had revenue of $23.16 million for the quarter, compared to analysts’ expectations of $23.61 million. Akoya Biosciences had a negative return on equity of 126.38% and a negative net margin of 64.74%. During the same period in the prior year, the firm earned ($0.51) EPS. On average, equities research analysts forecast that Akoya Biosciences, Inc. will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AKYA shares. JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Piper Sandler decreased their price target on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, Craig Hallum lowered their price target on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.56.

About Akoya Biosciences

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.