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

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) has been assigned an average rating of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $5.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AKYA. Bank of America Corp DE raised its position in Akoya Biosciences by 39.6% in the 4th quarter. Bank of America Corp DE now owns 29,092 shares of the company's stock worth $67,000 after purchasing an additional 8,258 shares during the period. Paragon Associates & Paragon Associates II Joint Venture raised its position in Akoya Biosciences by 1.4% in the 4th quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company's stock worth $1,834,000 after purchasing an additional 11,000 shares during the period. Intech Investment Management LLC purchased a new stake in Akoya Biosciences in the 4th quarter worth about $27,000. SG Americas Securities LLC purchased a new stake in Akoya Biosciences in the 4th quarter worth about $28,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Akoya Biosciences in the 4th quarter worth about $31,000. Institutional investors own 79.42% of the company's stock.

Akoya Biosciences Price Performance

Akoya Biosciences stock traded down $0.01 during mid-day trading on Tuesday, hitting $2.06. The stock had a trading volume of 489,594 shares, compared to its average volume of 980,412. The firm has a market capitalization of $101.87 million, a P/E ratio of -1.74 and a beta of 1.23. 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 firm's 50 day moving average is $2.59 and its 200 day moving average is $2.60. Akoya Biosciences has a one year low of $1.88 and a one year high of $6.31.

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.