Akoya Biosciences, Inc. (NASDAQ:AKYA) Sees Significant Drop in Short Interest

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,490,000 shares, a decrease of 30.8% from the February 28th total of 3,600,000 shares. Approximately 12.0% of the company's shares are sold short. Based on an average daily trading volume, of 639,800 shares, the short-interest ratio is currently 3.9 days.

Analysts Set New Price Targets

A number of research firms have issued reports on AKYA. Canaccord Genuity Group downgraded Akoya Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Stephens reissued an "equal weight" rating and set a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Finally, Piper Sandler cut shares of Akoya Biosciences from an "overweight" rating to a "neutral" rating and set a $2.40 price target on the stock. in a research report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $3.62.

Institutional Trading of Akoya Biosciences

A number of hedge funds have recently made changes to their positions in AKYA. Intech Investment Management LLC acquired a new stake in Akoya Biosciences in the fourth quarter valued at $27,000. SG Americas Securities LLC acquired a new stake in shares of Akoya Biosciences in the 4th quarter valued at about $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Akoya Biosciences during the fourth quarter worth about $31,000. Bank of America Corp DE grew its stake in Akoya Biosciences by 39.6% in the fourth 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 in the last quarter. Finally, Barclays PLC increased its holdings in 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 during the last quarter. Institutional investors and hedge funds own 79.42% of the company's stock.

Remove Ads

Akoya Biosciences Stock Up 0.7 %

NASDAQ AKYA traded up $0.01 on Wednesday, reaching $1.36. The company had a trading volume of 178,918 shares, compared to its average volume of 349,649. The firm has a market capitalization of $67.75 million, a PE ratio of -1.15 and a beta of 1.32. The firm has a 50-day moving average of $2.01 and a 200-day moving average of $2.44. Akoya Biosciences has a 1 year low of $1.32 and a 1 year high of $4.65. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Akoya Biosciences had a negative net margin of 66.77% and a negative return on equity of 162.99%. The business had revenue of $21.34 million for the quarter, compared to analyst estimates of $21.34 million. On average, equities research analysts anticipate that Akoya Biosciences will post -0.96 EPS for the current fiscal year.

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.