Akoya Biosciences, Inc. (NASDAQ:AKYA) Sees Large Increase in Short Interest

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,170,000 shares, an increase of 24.0% from the December 31st total of 1,750,000 shares. Based on an average daily trading volume, of 597,700 shares, the short-interest ratio is currently 3.6 days. Currently, 4.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AKYA. Piper Sandler reissued an "overweight" rating and set a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Craig Hallum lowered 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 research 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $5.43.

Akoya Biosciences Stock Performance

Akoya Biosciences stock traded up $0.12 during midday trading on Wednesday, hitting $2.74. The company's stock had a trading volume of 340,685 shares, compared to its average volume of 1,249,807. The company has a 50-day moving average price of $2.57 and a two-hundred day moving average price of $2.61. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. The company has a market cap of $135.82 million, a price-to-earnings ratio of -2.33 and a beta of 1.23. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85.

Institutional Investors Weigh In On Akoya Biosciences

Several institutional investors have recently made changes to their positions in AKYA. SG Americas Securities LLC bought a new stake in Akoya Biosciences during the fourth quarter worth $28,000. Barclays PLC boosted its holdings in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company's stock valued at $107,000 after acquiring an additional 30,095 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Akoya Biosciences by 87.4% in the 3rd 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 in the last quarter. State Street Corp grew its holdings in shares of Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company's stock worth $1,233,000 after purchasing an additional 18,361 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in Akoya Biosciences in the 4th quarter valued at approximately $1,180,000. 79.42% of the stock is currently owned by institutional investors.

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.