Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Down 20.8% in October

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,600,000 shares, a drop of 20.8% from the October 15th total of 2,020,000 shares. Based on an average trading volume of 132,000 shares, the days-to-cover ratio is presently 12.1 days. Currently, 7.8% of the shares of the stock are short sold.

Akoya Biosciences Stock Performance

AKYA traded down $0.72 during trading on Friday, reaching $2.41. 1,260,472 shares of the company were exchanged, compared to its average volume of 225,490. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43. The firm has a 50 day moving average of $2.91 and a 200 day moving average of $2.66. The stock has a market cap of $119.29 million, a P/E ratio of -2.00 and a beta of 1.34. Akoya Biosciences has a 52 week low of $1.88 and a 52 week high of $6.31.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of Akoya Biosciences from $6.00 to $4.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 13th. Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and cut their target price for the company from $7.00 to $5.00 in a research note on Friday. Morgan Stanley downgraded shares of Akoya Biosciences from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. Canaccord Genuity Group dropped their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a "buy" rating for the company in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded Akoya Biosciences from an "overweight" rating to a "neutral" rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Akoya Biosciences presently has an average rating of "Hold" and a consensus target price of $5.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC increased 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 valued at $107,000 after buying an additional 30,095 shares in the last quarter. State Street Corp increased its stake in Akoya Biosciences by 4.2% in the 3rd quarter. State Street Corp now owns 453,296 shares of the company's stock valued at $1,233,000 after buying an additional 18,361 shares during the last quarter. GSA Capital Partners LLP boosted 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 during the last quarter. Regal Investment Advisors LLC raised its position in Akoya Biosciences by 64.3% during 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in 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 last quarter. Hedge funds and other institutional investors 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.