Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $9.07

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.07.

Several research firms recently commented on AKYA. UBS Group increased their price objective on Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. dropped 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. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $10.00 target price on shares of Akoya Biosciences in a research report on Tuesday, March 5th.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $3.80 on Wednesday. Akoya Biosciences has a 1-year low of $3.04 and a 1-year high of $8.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.45 and a quick ratio of 2.94. The business has a fifty day moving average price of $4.74 and a 200-day moving average price of $4.63. The company has a market capitalization of $187.64 million, a PE ratio of -2.57 and a beta of 1.48.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $26.12 million. During the same period last year, the company earned ($0.50) earnings per share. As a group, equities analysts expect that Akoya Biosciences will post -0.86 EPS for the current fiscal year.

Insider Transactions at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $4.97, for a total value of $37,275.00. Following the transaction, the chief executive officer now owns 231,868 shares of the company’s stock, valued at $1,152,383.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in Akoya Biosciences by 10,169.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock valued at $30,000 after purchasing an additional 6,000 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in Akoya Biosciences by 5.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock valued at $602,000 after purchasing an additional 7,200 shares during the period. Tower Research Capital LLC TRC raised its stake in Akoya Biosciences by 291.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock valued at $51,000 after purchasing an additional 7,746 shares during the period. Bank of New York Mellon Corp raised its stake in 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 valued at $618,000 after purchasing an additional 10,233 shares during the period. Finally, SVB Wealth LLC raised its stake in Akoya Biosciences by 3.1% during the 3rd quarter. SVB Wealth LLC now owns 515,317 shares of the company’s stock valued at $2,396,000 after purchasing an additional 15,400 shares during the period. Institutional investors own 79.42% 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.