Research Analysts Set Expectations for Akoya Biosciences, Inc.’s Q2 2024 Earnings (NASDAQ:AKYA)

Akoya Biosciences, Inc. (NASDAQ:AKYA) – Stock analysts at Capital One Financial issued their Q2 2024 earnings per share estimates for Akoya Biosciences in a report issued on Thursday, April 11th. Capital One Financial analyst T. Chiang expects that the company will post earnings of ($0.26) per share for the quarter. The consensus estimate for Akoya Biosciences’ current full-year earnings is ($0.86) per share. Capital One Financial also issued estimates for Akoya Biosciences’ Q3 2024 earnings at ($0.20) EPS.

Several other research firms have also recently weighed in on AKYA. UBS Group upped their price objective on Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Akoya Biosciences in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.07.

Akoya Biosciences Stock Down 2.9 %

NASDAQ:AKYA opened at $4.01 on Monday. Akoya Biosciences has a 1 year low of $3.04 and a 1 year high of $8.80. 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 stock has a market cap of $197.05 million, a price-to-earnings ratio of -2.71 and a beta of 1.48. The stock has a 50-day moving average price of $5.09 and a two-hundred day moving average price of $4.65.

Akoya Biosciences (NASDAQ:AKYA) last posted its earnings results on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. The firm had revenue of $26.49 million during the quarter, compared to analysts’ expectations of $26.12 million. During the same period in the previous year, the firm earned ($0.50) earnings per share.

Institutional Trading of Akoya Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Akoya Biosciences by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,408,157 shares of the company’s stock worth $6,872,000 after purchasing an additional 57,762 shares during the last quarter. Barclays PLC lifted its holdings in Akoya Biosciences by 512.2% during the 4th quarter. Barclays PLC now owns 33,393 shares of the company’s stock worth $163,000 after purchasing an additional 27,938 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Akoya Biosciences by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 40,827 shares of the company’s stock worth $199,000 after acquiring an additional 11,453 shares during the period. Parkman Healthcare Partners LLC increased its stake in Akoya Biosciences by 28.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock worth $3,293,000 after acquiring an additional 149,164 shares during the period. Finally, Regal Investment Advisors LLC bought a new position in Akoya Biosciences during the 4th quarter worth $54,000. 79.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brian Mckelligon sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $4.97, for a total value of $37,275.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this link. Insiders own 8.50% 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.