Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 24.0% in January

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 2,170,000 shares, an increase of 24.0% from the December 31st total of 1,750,000 shares. Based on an average trading volume of 597,700 shares, the short-interest ratio is currently 3.6 days. Currently, 4.4% of the company’s shares are short sold.

Institutional Trading of Akoya Biosciences

A number of institutional investors have recently bought and sold shares of AKYA. SG Americas Securities LLC purchased a new stake in Akoya Biosciences in the 4th quarter valued at about $28,000. State Street Corp boosted its holdings in Akoya Biosciences by 4.2% in 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 period. Barclays PLC boosted its holdings in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Akoya Biosciences by 87.4% in 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 period. Institutional investors own 79.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AKYA. Craig Hallum downgraded Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their price target for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 target price (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.43.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA traded down $0.18 during trading on Monday, hitting $2.75. 180,511 shares of the company were exchanged, compared to its average volume of 1,321,947. The business’s 50 day moving average is $2.55 and its 200-day moving average is $2.61. The company has a market capitalization of $136.07 million, a P/E ratio of -2.32 and a beta of 1.23. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31.

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.