Akoya Biosciences (NASDAQ:AKYA) Given “Overweight” Rating at Stephens

Stephens restated their overweight rating on shares of Akoya Biosciences (NASDAQ:AKYA) in a report published on Tuesday morning,Benzinga reports. Stephens currently has a $3.50 target price on the stock.

A number of other research firms have also recently issued reports on AKYA. Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price for the company. in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.90.

Akoya Biosciences Stock Performance

NASDAQ:AKYA opened at $1.68 on Tuesday. Akoya Biosciences has a 1 year low of $1.39 and a 1 year high of $5.16. The firm has a 50 day moving average of $2.26 and a 200-day moving average of $2.51. 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 stock has a market capitalization of $83.28 million, a P/E ratio of -1.42 and a beta of 1.32.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The firm had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. As a group, sell-side analysts anticipate that Akoya Biosciences will post -0.96 EPS for the current fiscal year.

Institutional Trading of Akoya Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Akoya Biosciences during the 4th quarter worth $27,000. SG Americas Securities LLC acquired a new stake in Akoya Biosciences during the 4th quarter worth $28,000. Price T Rowe Associates Inc. MD acquired a new stake in Akoya Biosciences during the 4th quarter worth $31,000. Bank of America Corp DE grew its holdings in Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after acquiring an additional 8,258 shares during the period. Finally, Barclays PLC grew its holdings in Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after acquiring an additional 30,095 shares during the period. 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.