Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.07.

Several research firms have issued reports on AKYA. 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. UBS Group raised their target price on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.00 price target on shares of Akoya Biosciences in a research note on Tuesday, March 5th.

Insider Transactions at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,152,383.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Akoya Biosciences

Large investors have recently made changes to their positions in the stock. SVB Wealth LLC lifted its position in 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 acquiring an additional 15,400 shares during the last quarter. Bank of New York Mellon Corp grew its position in Akoya Biosciences by 8.3% in 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 during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings 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 acquired a new position in shares of Akoya Biosciences in the 3rd quarter valued at $3,471,000. Finally, Polar Capital Holdings Plc grew its position in Akoya Biosciences by 4.2% in the third quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock valued at $7,346,000 after acquiring an additional 64,286 shares during the period. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Price Performance

Akoya Biosciences stock opened at $3.80 on Wednesday. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41. The firm has a market cap of $187.64 million, a PE ratio of -2.57 and a beta of 1.48. The company’s 50 day moving average is $4.74 and its two-hundred day moving average is $4.64. Akoya Biosciences has a 52-week low of $3.04 and a 52-week high of $8.80.

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. On average, research analysts expect that Akoya Biosciences will post -0.86 EPS for the current fiscal year.

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.