Aktis Oncology (NASDAQ:AKTS) Earns “Outperform” Rating from Wedbush

Aktis Oncology (NASDAQ:AKTS)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report issued on Friday, Benzinga reports. They presently have a $35.00 target price on the technology company’s stock. Wedbush’s target price indicates a potential upside of 88.98% from the company’s current price.

Several other research firms have also recently issued reports on AKTS. Wall Street Zen cut Aktis Oncology from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. upped their price objective on Aktis Oncology from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. BMO Capital Markets started coverage on Aktis Oncology in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 price objective on the stock. Oppenheimer started coverage on Aktis Oncology in a report on Wednesday, September 9th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Raymond James Financial started coverage on Aktis Oncology in a report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.63.

Aktis Oncology Stock Performance

Shares of AKTS stock remained flat at $18.52 during midday trading on Friday. The company’s stock had a trading volume of 337,988 shares, compared to its average volume of 353,255. Aktis Oncology has a 1 year low of $14.72 and a 1 year high of $34.19. The company has a 50-day simple moving average of $23.45 and a 200 day simple moving average of $22.14. The firm has a market cap of $995.45 million and a price-to-earnings ratio of -22.59.

Aktis Oncology (NASDAQ:AKTS) last posted its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The business had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $2.70 million. As a group, research analysts forecast that Aktis Oncology will post -1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ken Herrmann sold 4,856 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $24.56, for a total value of $119,263.36. Following the transaction, the director directly owned 3,506 shares of the company’s stock, valued at approximately $86,107.36. This trade represents a 58.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Aktis Oncology

A number of institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in Aktis Oncology in the 2nd quarter worth $1,839,000. Squarepoint Ops LLC purchased a new stake in Aktis Oncology in the 2nd quarter worth $1,237,000. Readystate Asset Management LP purchased a new stake in Aktis Oncology in the 2nd quarter worth $967,000. AXQ Capital LP purchased a new stake in Aktis Oncology in the 2nd quarter worth $226,000. Finally, Susquehanna International Group LLP purchased a new stake in Aktis Oncology in the 2nd quarter worth $278,000. 28.84% of the stock is owned by institutional investors.

About Aktis Oncology

Aktis Oncology, Inc is a clinical-stage biopharmaceutical company developing targeted alpha therapies for the treatment of cancer. Its research is focused on creating therapies designed to selectively deliver alpha-particle radiation to tumor cells while limiting exposure to surrounding healthy tissue.

The company’s platform uses proprietary tumor-targeting molecules, including engineered miniproteins, to bind specific targets found on cancer cells and transport radioactive payloads to tumors.