Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Target Price at $7.79

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $7.79.

Several equities analysts have recently commented on AKYA shares. UBS Group boosted their price target on shares of Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a report on Tuesday, March 5th. Canaccord Genuity Group dropped their target price on Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reduced their price target on Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, March 6th. Finally, BTIG Research dropped their price objective on Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, May 14th.

Akoya Biosciences Stock Down 15.1 %

NASDAQ:AKYA opened at $1.94 on Friday. The business’s fifty day moving average price is $4.02 and its 200 day moving average price is $4.61. The firm has a market capitalization of $95.82 million, a price-to-earnings ratio of -1.32 and a beta of 1.52. The company has a current ratio of 3.07, a quick ratio of 2.38 and a debt-to-equity ratio of 2.33. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $8.80.

Akoya Biosciences (NASDAQ:AKYA) last issued its earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. The company had revenue of $26.49 million for the quarter, compared to the consensus estimate of $26.12 million. During the same quarter in the prior year, the company earned ($0.50) EPS. On average, sell-side analysts forecast that Akoya Biosciences will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Akoya Biosciences

In other Akoya Biosciences news, CEO Brian Mckelligon sold 7,500 shares of the company’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 transaction of $37,275.00. Following the completion of the sale, the chief executive officer now owns 231,868 shares of the company’s stock, valued at $1,152,383.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in shares of Akoya Biosciences by 10,169.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after purchasing an additional 6,000 shares during the period. Tower Research Capital LLC TRC grew its holdings in Akoya Biosciences by 291.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock valued at $51,000 after buying an additional 7,746 shares during the last quarter. CIBC Asset Management Inc increased its position in Akoya Biosciences by 176.0% in the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after buying an additional 73,737 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Akoya Biosciences by 5.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after buying an additional 7,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Akoya Biosciences by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock valued at $618,000 after acquiring an additional 10,233 shares during the period. Institutional investors and hedge funds 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.