Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,490,000 shares, a decline of 30.8% from the February 28th total of 3,600,000 shares. Currently, 12.0% of the shares of the stock are sold short. Based on an average trading volume of 639,800 shares, the short-interest ratio is currently 3.9 days.

Akoya Biosciences Trading Down 2.8 %

Shares of AKYA stock opened at $1.39 on Tuesday. Akoya Biosciences has a twelve month low of $1.32 and a twelve month high of $4.69. The stock has a market cap of $69.24 million, a price-to-earnings ratio of -1.18 and a beta of 1.32. The company’s 50-day moving average price is $2.08 and its 200-day moving average price is $2.46. 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 (NASDAQ:AKYA) last posted its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share 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 analyst estimates of $21.34 million. Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. As a group, equities analysts predict that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Investors Weigh In On Akoya Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of 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 purchasing an additional 18,361 shares during the last quarter. Barclays PLC increased its position in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences during the fourth quarter valued at about $28,000. SVB Wealth LLC purchased a new stake in shares of Akoya Biosciences in the 4th quarter valued at approximately $1,180,000. Finally, Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences in the 4th quarter worth approximately $27,000. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AKYA. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler downgraded shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target on the stock. in a research note on Wednesday, March 5th. Finally, Stephens reaffirmed an “equal weight” rating and set a $1.80 price objective (down previously from $3.50) on shares of Akoya Biosciences in a research note on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.62.

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.