Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Down 5.9% in March

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

Insiders Place Their Bets

In other news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction dated Wednesday, March 20th. The shares were 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 in the company, valued at $1,152,383.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Capital Holdings Plc boosted its position 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 buying an additional 64,286 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Akoya Biosciences by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,408,157 shares of the company’s stock worth $6,872,000 after buying an additional 57,762 shares in the last quarter. BlackRock Inc. lifted its holdings in Akoya Biosciences by 19.4% in the 2nd quarter. BlackRock Inc. now owns 1,189,850 shares of the company’s stock valued at $8,793,000 after purchasing an additional 193,305 shares in the last quarter. Kent Lake Capital LLC purchased a new position in Akoya Biosciences in the 3rd quarter valued at about $3,471,000. Finally, Millennium Management LLC lifted its holdings in Akoya Biosciences by 6.1% in the 2nd quarter. Millennium Management LLC now owns 718,063 shares of the company’s stock valued at $9,227,000 after purchasing an additional 41,261 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Down 0.2 %

NASDAQ:AKYA traded down $0.01 during mid-day trading on Tuesday, hitting $4.00. The stock had a trading volume of 112,561 shares, compared to its average volume of 196,992. The stock has a 50-day simple moving average of $5.09 and a two-hundred day simple moving average of $4.65. Akoya Biosciences has a twelve month low of $3.04 and a twelve month high of $8.80. 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 (NASDAQ:AKYA) last released its quarterly earnings data 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 quarter last year, the company earned ($0.50) earnings per share. As a group, analysts expect that Akoya Biosciences will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AKYA shares. JPMorgan Chase & Co. dropped their price objective on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, March 6th. UBS Group increased their target price on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.07.

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.