Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Consensus Rating of “Hold” from Analysts

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $5.43.

Several research firms have weighed in on AKYA. Craig Hallum downgraded shares of Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group cut their price target on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a report on Friday, November 15th.

Akoya Biosciences Price Performance

Shares of NASDAQ:AKYA opened at $2.43 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $120.44 million, a PE ratio of -2.06 and a beta of 1.22. The firm’s 50 day moving average price is $2.50 and its 200-day moving average price is $2.53. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31.

Institutional Investors Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after acquiring an additional 30,095 shares during the period. State Street Corp lifted 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 purchasing an additional 18,361 shares in the last quarter. GSA Capital Partners LLP lifted 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 purchasing an additional 144,903 shares in the last quarter. Regal Investment Advisors LLC boosted its stake in Akoya Biosciences by 64.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after purchasing an additional 7,340 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Akoya Biosciences by 16.2% during the 2nd 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. 79.42% of the stock is owned by institutional investors.

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.