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

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

Institutional Trading of Akoya Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Akoya Biosciences during the fourth quarter valued at approximately $28,000. Barclays PLC grew its holdings 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 increased its position in Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after acquiring an additional 18,361 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after acquiring an additional 144,903 shares during the period. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

Akoya Biosciences Stock Performance

Shares of NASDAQ AKYA traded down $0.07 during midday trading on Friday, hitting $2.92. The stock had a trading volume of 241,225 shares, compared to its average volume of 1,345,131. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The business’s 50 day moving average is $2.55 and its 200-day moving average is $2.61. Akoya Biosciences has a 52 week low of $1.88 and a 52 week high of $6.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AKYA shares. Piper Sandler reiterated an “overweight” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Canaccord Genuity Group cut shares of Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Craig Hallum downgraded shares of Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.43.

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.