Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) Target Price at $5.43

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $5.43.

Several analysts recently commented on AKYA shares. Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and reduced their price target for the company from $7.00 to $5.00 in a research report on Friday, November 15th. Piper Sandler reiterated an "overweight" rating and issued a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group downgraded shares of Akoya Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th.

Akoya Biosciences Stock Down 2.0 %

Shares of Akoya Biosciences stock traded down $0.07 during trading hours on Friday, hitting $3.16. The company had a trading volume of 182,115 shares, compared to its average volume of 1,734,296. The company's 50-day moving average is $2.45 and its two-hundred day moving average is $2.58. 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 current ratio of 2.75 and a quick ratio of 1.85. The company has a market cap of $156.84 million, a P/E ratio of -2.68 and a beta of 1.18.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences during the fourth quarter worth about $28,000. Regal Investment Advisors LLC boosted its position in shares of Akoya Biosciences by 64.3% in the second 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 during the last quarter. Barclays PLC boosted its position 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 last quarter. Bank of New York Mellon Corp lifted its position 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. Finally, GSA Capital Partners LLP lifted 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 buying an additional 144,903 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

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.