Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Average Recommendation of “Hold” from Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.43.

Several equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Craig Hallum downgraded 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. Finally, Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Akoya Biosciences in the fourth quarter worth $28,000. Regal Investment Advisors LLC increased its position in Akoya Biosciences by 64.3% in the second 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 increased its position in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the period. Bank of New York Mellon Corp increased its position in Akoya Biosciences by 16.2% in the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after buying an additional 9,429 shares during the period. Finally, GSA Capital Partners LLP increased its position in 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 buying an additional 144,903 shares during the period. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Price Performance

AKYA stock opened at $2.99 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a 52-week low of $1.88 and a 52-week high of $6.31. The stock’s 50 day moving average is $2.53 and its two-hundred day moving average is $2.61. The company has a market capitalization of $148.21 million, a PE ratio of -2.53 and a beta of 1.18.

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.