Aktis Oncology’s (AKTS) “Outperform” Rating Reaffirmed at Wedbush

Aktis Oncology (NASDAQ:AKTS)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued on Friday, Benzinga reports. They currently have a $35.00 price objective on the technology company’s stock. Wedbush’s price target points to a potential upside of 94.34% from the stock’s current price.

Several other brokerages have also recently issued reports on AKTS. JPMorgan Chase & Co. lifted their price objective on Aktis Oncology from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Aktis Oncology in a report on Friday, September 18th. Raymond James Financial began coverage on Aktis Oncology in a report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 price objective for the company. Wall Street Zen cut Aktis Oncology from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets assumed coverage on Aktis Oncology in a report on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.63.

Aktis Oncology Stock Performance

AKTS stock traded up $0.15 during midday trading on Friday, hitting $18.01. 62,126 shares of the stock were exchanged, compared to its average volume of 350,800. The stock’s 50-day moving average price is $23.23 and its 200-day moving average price is $22.15. The stock has a market cap of $968.04 million and a price-to-earnings ratio of -21.92. Aktis Oncology has a fifty-two week low of $14.72 and a fifty-two week high of $34.19.

Aktis Oncology (NASDAQ:AKTS) last issued its quarterly earnings data on Thursday, August 13th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The company had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $2.70 million. Research analysts anticipate that Aktis Oncology will post -1.85 EPS for the current year.

Insider Buying and Selling

In related news, Director Ken Herrmann sold 4,856 shares of the company’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 completion of the transaction, the director directly owned 3,506 shares in the company, valued at approximately $86,107.36. This represents a 58.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Aktis Oncology

A number of institutional investors have recently added to or reduced their stakes in AKTS. State of Wyoming purchased a new stake in Aktis Oncology during the second quarter valued at about $32,000. AXQ Capital LP purchased a new stake in Aktis Oncology during the second quarter valued at about $226,000. Susquehanna International Group LLP purchased a new stake in Aktis Oncology during the second quarter valued at about $278,000. Deutsche Bank AG grew its position in Aktis Oncology by 49.3% during the second quarter. Deutsche Bank AG now owns 21,022 shares of the technology company’s stock valued at $678,000 after acquiring an additional 6,942 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in Aktis Oncology during the second quarter valued at about $967,000. Hedge funds and other institutional investors own 28.84% of the company’s stock.

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.