Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Expands By 25.7%

Akoya Biosciences, Inc. (NASDAQ:AKYAGet Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 1,050,000 shares, a growth of 25.7% from the February 29th total of 835,500 shares. Currently, 4.9% of the company’s stock are sold short. Based on an average trading volume of 202,300 shares, the days-to-cover ratio is currently 5.2 days.

Insider Buying and Selling at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $4.97, for a total transaction of $37,275.00. Following the transaction, the chief executive officer now directly owns 231,868 shares of the company’s stock, valued at $1,152,383.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of AKYA. Polar Capital Holdings Plc lifted its holdings in shares of Akoya Biosciences by 4.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock worth $7,346,000 after purchasing an additional 64,286 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Akoya Biosciences by 5.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after buying an additional 7,200 shares during the last quarter. Blue Water Life Science Advisors LP boosted its holdings in shares of Akoya Biosciences by 123.9% during the second quarter. Blue Water Life Science Advisors LP now owns 4,697,785 shares of the company’s stock valued at $34,717,000 after acquiring an additional 2,600,000 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Akoya Biosciences during the second quarter worth about $2,437,000. Finally, Kent Lake Capital LLC acquired a new stake in shares of Akoya Biosciences in the 3rd quarter worth about $3,471,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AKYA has been the topic of several recent analyst reports. UBS Group boosted their price target on Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. cut their target price on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 6th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 target price on shares of Akoya Biosciences in a research note on Tuesday, March 5th. Finally, Guggenheim began coverage on shares of Akoya Biosciences in a research note on Thursday, December 14th. They issued a “neutral” rating for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Akoya Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $9.07.

View Our Latest Stock Report on AKYA

Akoya Biosciences Price Performance

Shares of NASDAQ AKYA opened at $4.69 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.94 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $230.47 million, a price-to-earnings ratio of -3.17 and a beta of 1.53. Akoya Biosciences has a twelve month low of $3.04 and a twelve month high of $8.80. The business has a 50 day simple moving average of $5.29 and a 200-day simple moving average of $4.66.

Akoya Biosciences (NASDAQ:AKYAGet Free Report) last issued its earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative net margin of 65.53% and a negative return on equity of 110.24%. The company had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.12 million. During the same period in the prior year, the company earned ($0.50) earnings per share. As a group, equities research analysts expect that Akoya Biosciences will post -0.86 earnings per share for the current year.

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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