Analysts Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Target Price at $6.56

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.56.

Several equities analysts have recently commented on AKYA shares. Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $4.00 to $3.00 in a research report on Tuesday, August 6th. Piper Sandler decreased their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Craig Hallum decreased their target price on shares of Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. BTIG Research lowered shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research report on Tuesday, August 6th.

Institutional Investors Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Regal Investment Advisors LLC lifted its holdings in Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the last quarter. Bank of New York Mellon Corp lifted 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 buying an additional 9,429 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new stake in Akoya Biosciences during the first quarter valued at about $2,724,000. Finally, Vanguard Group Inc. lifted its stake in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Stock Down 4.7 %

Akoya Biosciences stock opened at $2.87 on Wednesday. The company has a 50-day simple moving average of $2.70 and a 200-day simple moving average of $2.77. The firm has a market capitalization of $141.74 million, a P/E ratio of -1.95 and a beta of 1.36. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). The business had revenue of $23.16 million during the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative net margin of 64.74% and a negative return on equity of 126.38%. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. As a group, equities analysts expect that Akoya Biosciences will post -0.98 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.