Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives Average Recommendation of "Hold" from Brokerages

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) have earned an average rating of "Hold" from the seven analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.43.

AKYA has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their target price on Akoya Biosciences from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Friday, November 15th. Craig Hallum lowered 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th.

Akoya Biosciences Price Performance

Shares of AKYA stock traded down $0.01 during mid-day trading on Monday, hitting $2.38. 132,075 shares of the stock traded hands, compared to its average volume of 236,867. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The company's 50-day simple moving average is $2.55 and its 200-day simple moving average is $2.52. The firm has a market cap of $117.96 million, a price-to-earnings ratio of -2.02 and a beta of 1.22.

Institutional Trading of Akoya Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of AKYA. Regal Investment Advisors LLC lifted 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 acquiring an additional 7,340 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company's stock valued at $158,000 after purchasing an additional 9,429 shares during the period. State Street Corp lifted its position in shares of Akoya Biosciences by 4.2% in the third 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. Barclays PLC boosted its holdings in shares of Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company's stock worth $107,000 after purchasing an additional 30,095 shares during the period. Finally, GSA Capital Partners LLP grew its position in Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company's stock valued at $845,000 after purchasing an additional 144,903 shares in the last quarter. Institutional investors and hedge funds own 79.42% of the company's stock.

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.