Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 24.0% in January

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,170,000 shares, a growth of 24.0% from the December 31st total of 1,750,000 shares. Based on an average daily trading volume, of 597,700 shares, the days-to-cover ratio is presently 3.6 days. Currently, 4.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

AKYA has been the subject of several research reports. Canaccord Genuity Group lowered shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reaffirmed an “overweight” rating and set a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Craig Hallum downgraded shares of Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Akoya Biosciences has an average rating of “Hold” and an average price target of $5.43.

Akoya Biosciences Price Performance

AKYA stock traded down $0.18 during midday trading on Monday, reaching $2.75. The stock had a trading volume of 180,511 shares, compared to its average volume of 1,321,947. Akoya Biosciences has a 52-week low of $1.88 and a 52-week high of $6.31. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The company’s fifty day simple moving average is $2.55 and its 200 day simple moving average is $2.61. The company has a market cap of $136.07 million, a price-to-earnings ratio of -2.32 and a beta of 1.23.

Hedge Funds Weigh In On Akoya Biosciences

Several institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its stake in Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after purchasing an additional 144,903 shares during the last quarter. Barclays PLC lifted its stake in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the last quarter. State Street Corp raised its stake in shares of 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 purchasing an additional 18,361 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences during the fourth quarter worth approximately $28,000. 79.42% of the stock is owned by institutional investors and hedge funds.

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.