Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $3.98 Consensus Target Price from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $3.90.

A number of analysts recently weighed in on AKYA shares. Piper Sandler cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 target price on the stock. in a research note on Wednesday, March 5th. Stephens reiterated an “overweight” rating and issued a $3.50 price objective on shares of Akoya Biosciences in a research note on Tuesday. Finally, Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Akoya Biosciences during the 4th quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences in the fourth quarter valued at $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences in the fourth quarter valued at about $31,000. Bank of America Corp DE lifted its position in Akoya Biosciences by 39.6% during the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company’s stock worth $67,000 after buying an additional 8,258 shares in the last quarter. Finally, Barclays PLC lifted its position in Akoya Biosciences by 320.9% during 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 in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $1.70 on Friday. The firm has a market capitalization of $84.69 million, a PE ratio of -1.44 and a beta of 1.32. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a 1-year low of $1.39 and a 1-year high of $5.08. The business’s 50 day moving average is $2.24 and its 200-day moving average is $2.50.

Akoya Biosciences (NASDAQ:AKYA) last issued its earnings results on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. Sell-side analysts predict that Akoya Biosciences will post -0.96 earnings per share for the current year.

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.