Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 22.2% in December

Akoya Biosciences, Inc. (NASDAQ:AKYAGet Rating) saw a significant growth in short interest in the month of December. As of December 30th, there was short interest totalling 602,700 shares, a growth of 22.2% from the December 15th total of 493,400 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average trading volume of 123,000 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AKYA. BTIG Research lowered their price objective on Akoya Biosciences to $18.00 in a research report on Tuesday, November 15th. Stephens began coverage on Akoya Biosciences in a research report on Wednesday, October 5th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Capital One Financial began coverage on Akoya Biosciences in a report on Thursday, November 3rd. They set an “overweight” rating and a $19.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.80.

Akoya Biosciences Price Performance

NASDAQ AKYA opened at $10.50 on Friday. Akoya Biosciences has a one year low of $8.02 and a one year high of $16.57. The stock has a 50-day moving average of $11.44 and a 200 day moving average of $12.47. The company has a market capitalization of $398.54 million, a price-to-earnings ratio of -5.68 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a quick ratio of 3.11 and a current ratio of 3.53.

Akoya Biosciences (NASDAQ:AKYAGet Rating) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.07). Akoya Biosciences had a negative return on equity of 70.53% and a negative net margin of 99.49%. The business had revenue of $18.85 million during the quarter, compared to the consensus estimate of $17.80 million. On average, sell-side analysts forecast that Akoya Biosciences will post -1.8 EPS for the current year.

Insider Buying and Selling

In related news, Director Garry Ph.D. Nolan sold 3,810 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $13.31, for a total value of $50,711.10. Following the completion of the sale, the director now owns 618,978 shares of the company’s stock, valued at $8,238,597.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Joseph Driscoll sold 24,613 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $12.54, for a total value of $308,647.02. Following the completion of the sale, the chief financial officer now owns 12,500 shares of the company’s stock, valued at $156,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Garry Ph.D. Nolan sold 3,810 shares of the firm’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $13.31, for a total value of $50,711.10. Following the transaction, the director now directly owns 618,978 shares of the company’s stock, valued at approximately $8,238,597.18. The disclosure for this sale can be found here. Insiders sold 30,523 shares of company stock valued at $387,201 over the last quarter. 9.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Akoya Biosciences

Several large investors have recently bought and sold shares of AKYA. American International Group Inc. boosted its position in Akoya Biosciences by 10.8% in the second quarter. American International Group Inc. now owns 7,381 shares of the company’s stock worth $95,000 after purchasing an additional 718 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Akoya Biosciences in the second quarter worth about $26,000. JPMorgan Chase & Co. boosted its position in Akoya Biosciences by 34.0% in the second quarter. JPMorgan Chase & Co. now owns 8,431 shares of the company’s stock worth $108,000 after purchasing an additional 2,138 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Akoya Biosciences by 12.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,401 shares of the company’s stock worth $741,000 after purchasing an additional 7,243 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC purchased a new position in shares of Akoya Biosciences during the 3rd quarter valued at about $89,000. 34.61% of the stock is currently owned by institutional investors.

Akoya Biosciences Company Profile

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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.

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