Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Rating of “Hold” by Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $5.57.

AKYA has been the topic of a number of recent research reports. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $7.00 to $5.00 in a research note on Friday. BTIG Research lowered Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group lowered their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $4.00 to $3.00 in a report on Tuesday, August 6th.

Institutional Trading of Akoya Biosciences

Several institutional investors have recently added to or reduced their stakes in AKYA. Vanguard Group Inc. increased its position in shares of Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after purchasing an additional 46,131 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Akoya Biosciences in the first quarter valued at about $2,724,000. State Street Corp raised its stake in Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Akoya Biosciences by 87.4% during the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after buying an additional 144,903 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Performance

NASDAQ:AKYA opened at $2.41 on Friday. The firm’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.64. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The firm has a market capitalization of $119.29 million, a price-to-earnings ratio of -2.04 and a beta of 1.34.

Akoya Biosciences Company Profile

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.