Aktis Oncology (NASDAQ:AKTS) Trading Down 8.6% – What’s Next?

Aktis Oncology (NASDAQ:AKTS)’s stock price traded down 8.6% during trading on Wednesday . The stock traded as low as $20.14 and last traded at $20.2150. 371,316 shares were traded during mid-day trading, an increase of 5% from the average session volume of 353,180 shares. The stock had previously closed at $22.11.

Analyst Upgrades and Downgrades

AKTS has been the topic of several analyst reports. BMO Capital Markets assumed coverage on shares of Aktis Oncology in a research report on Tuesday, August 18th. They set an “outperform” rating and a $37.00 price target on the stock. HC Wainwright boosted their price objective on shares of Aktis Oncology from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their target price on Aktis Oncology from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Oppenheimer began coverage on Aktis Oncology in a report on Wednesday, September 9th. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Raymond James Financial initiated coverage on Aktis Oncology in a report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.62.

Aktis Oncology Stock Performance

The firm has a market cap of $1.06 billion and a P/E ratio of -24.37. The company’s 50 day moving average is $24.30 and its 200 day moving average is $22.15.

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 for the quarter, compared to analysts’ expectations of $2.70 million. On average, equities research analysts anticipate that Aktis Oncology will post -1.82 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ken Herrmann sold 4,856 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $24.56, for a total transaction of $119,263.36. Following the sale, the director owned 3,506 shares in the company, valued at $86,107.36. The trade was a 58.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in Aktis Oncology by 7.9% in the 2nd quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock valued at $73,431,000 after acquiring an additional 166,231 shares during the period. Tidal Investments LLC acquired a new position in shares of Aktis Oncology during the second quarter worth $1,839,000. Alyeska Investment Group L.P. bought a new stake in shares of Aktis Oncology in the second quarter worth $9,347,000. Jupiter Topco LLC bought a new stake in shares of Aktis Oncology in the second quarter worth $42,359,000. Finally, Wellington Management Group LLP acquired a new stake in Aktis Oncology in the second quarter valued at $63,372,000. Institutional investors and hedge funds own 28.84% of the company’s stock.

Aktis Oncology Company Profile

Aktis Oncology, Inc is a clinical-stage biotechnology company focused on developing precision cancer treatments. The company’s research is centered on targeted alpha therapies, which are designed to deliver highly potent radiation directly to cancer cells while limiting exposure to surrounding healthy tissue.

Aktis Oncology is developing a pipeline of investigational therapies for solid tumors and other cancers. Its programs are intended to use tumor-targeting molecules to selectively transport radioactive payloads to cancer cells, with the goal of improving treatment effectiveness and addressing cancers that may be difficult to treat with conventional approaches.

The company’s product candidates remain in development and are subject to clinical, regulatory and commercial risks.