Akoya Biosciences (NASDAQ:AKYA) Cut to “Hold” at Craig Hallum

Craig Hallum lowered shares of Akoya Biosciences (NASDAQ:AKYA) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat reports. The brokerage currently has $5.00 price target on the stock, down from their previous price target of $7.00.

Several other research firms have also recently issued reports on AKYA. JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley lowered Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, August 6th. Finally, Piper Sandler reduced their price target on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Akoya Biosciences presently has an average rating of “Hold” and an average price target of $5.57.

Akoya Biosciences Trading Down 23.0 %

NASDAQ AKYA traded down $0.72 during trading hours on Friday, hitting $2.41. 1,260,584 shares of the company’s stock were exchanged, compared to its average volume of 225,490. The business’s 50 day moving average is $2.91 and its 200-day moving average is $2.65. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The firm has a market capitalization of $119.29 million, a P/E ratio of -2.04 and a beta of 1.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Regal Investment Advisors LLC increased its stake in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after buying an additional 7,340 shares during the period. Barclays PLC grew its stake in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after acquiring an additional 144,903 shares in the last quarter. Finally, State Street Corp boosted its holdings in Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after purchasing an additional 18,361 shares during the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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.