Akoya Biosciences (NASDAQ:AKYA) Stock Rating Lowered by Canaccord Genuity Group

Akoya Biosciences (NASDAQ:AKYA) was downgraded by analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.43.

Akoya Biosciences Stock Down 11.3 %

Shares of Akoya Biosciences stock opened at $2.60 on Monday. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. The company has a market capitalization of $128.86 million, a PE ratio of -2.20 and a beta of 1.18. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The business has a 50-day moving average of $2.48 and a 200-day moving average of $2.54.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in AKYA. Bank of New York Mellon Corp increased its stake in Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after purchasing an additional 9,429 shares during the last quarter. Regal Investment Advisors LLC raised its stake in Akoya Biosciences by 64.3% during the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after acquiring an additional 7,340 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares during the last quarter. State Street Corp grew its stake in Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after buying an additional 18,361 shares during the last quarter. Finally, Barclays PLC lifted its stake in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

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.