Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 988,400 shares, a drop of 5.9% from the March 15th total of 1,050,000 shares. Approximately 4.7% of the shares of the company are sold short. Based on an average daily volume of 203,800 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analyst Weigh In

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

Akoya Biosciences Trading Down 1.8 %

NASDAQ:AKYA opened at $3.91 on Thursday. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41. Akoya Biosciences has a 1-year low of $3.04 and a 1-year high of $8.80. The firm has a market capitalization of $192.14 million, a price-to-earnings ratio of -2.64 and a beta of 1.48. The stock has a fifty day simple moving average of $5.01 and a 200 day simple moving average of $4.64.

Akoya Biosciences (NASDAQ:AKYA) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The firm had revenue of $26.49 million during the quarter, compared to the consensus estimate of $26.12 million. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. During the same period in the prior year, the business earned ($0.50) EPS. Sell-side analysts forecast that Akoya Biosciences will post -0.86 earnings per share for the current year.

Insider Activity

In other news, CEO Brian Mckelligon sold 7,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $4.94, for a total transaction of $37,050.00. Following the transaction, the chief executive officer now directly owns 224,368 shares of the company’s stock, valued at $1,108,377.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Akoya Biosciences

Hedge funds have recently bought and sold shares of the business. Polar Capital Holdings Plc lifted its stake in 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 acquiring an additional 64,286 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Akoya Biosciences by 5.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after purchasing an additional 7,200 shares in the last quarter. Kent Lake Capital LLC purchased a new stake in shares of Akoya Biosciences during the 3rd quarter worth about $3,471,000. Bank of New York Mellon Corp raised its stake in shares of Akoya Biosciences by 8.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock worth $618,000 after purchasing an additional 10,233 shares in the last quarter. Finally, SVB Wealth LLC raised its stake in shares of Akoya Biosciences by 3.1% during the 3rd quarter. SVB Wealth LLC now owns 515,317 shares of the company’s stock worth $2,396,000 after purchasing an additional 15,400 shares in the last quarter. 79.42% of the stock is owned by hedge funds and other institutional investors.

About Akoya Biosciences

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.