Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Expands By 18.1%

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 1,500,000 shares, a growth of 18.1% from the November 15th total of 1,270,000 shares. Based on an average daily volume of 228,600 shares, the short-interest ratio is presently 6.6 days. Currently, 7.5% of the company's stock are short sold.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in AKYA. Regal Investment Advisors LLC grew its stake in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company's stock worth $44,000 after purchasing an additional 7,340 shares during the period. Barclays PLC lifted its holdings in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company's stock valued at $107,000 after purchasing an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp boosted 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 worth $158,000 after acquiring an additional 9,429 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company's stock worth $845,000 after purchasing an additional 144,903 shares during the last quarter. Finally, State Street Corp grew its holdings in Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company's stock valued at $1,233,000 after purchasing an additional 18,361 shares during the period. Hedge funds and other institutional investors own 79.42% of the company's stock.

Akoya Biosciences Stock Down 6.6 %

NASDAQ:AKYA traded down $0.16 during midday trading on Friday, hitting $2.27. 121,844 shares of the company were exchanged, compared to its average volume of 240,063. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31. The company has a market capitalization of $112.51 million, a PE ratio of -1.92 and a beta of 1.22. 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 company has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $2.49.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of Akoya Biosciences from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Friday, November 15th. Piper Sandler restated an "overweight" rating and issued a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Finally, Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and lowered their target price for the stock from $7.00 to $5.00 in a research note on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Akoya Biosciences presently has a consensus rating of "Hold" and an average price target of $5.43.

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.