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

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 3,250,000 shares, an increase of 60.1% from the January 31st total of 2,030,000 shares. Approximately 15.8% of the company's stock are sold short. Based on an average trading volume of 666,100 shares, the short-interest ratio is currently 4.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its stake in Akoya Biosciences by 404.1% in the fourth quarter. Deutsche Bank AG now owns 54,788 shares of the company's stock valued at $125,000 after acquiring an additional 43,920 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 buying an additional 8,258 shares during the period. Northern Trust Corp boosted its holdings in Akoya Biosciences by 18.9% in the 4th quarter. Northern Trust Corp now owns 250,343 shares of the company's stock worth $573,000 after buying an additional 39,799 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Akoya Biosciences in the 4th quarter worth approximately $31,000. Finally, Paragon Associates & Paragon Associates II Joint Venture boosted its holdings 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 buying an additional 11,000 shares during the period. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Canaccord Genuity Group downgraded shares of Akoya Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Akoya Biosciences currently has an average rating of "Hold" and an average price target of $5.43.

Akoya Biosciences Stock Performance

AKYA traded down $0.02 during midday trading on Wednesday, reaching $1.60. The company had a trading volume of 191,999 shares, compared to its average volume of 341,049. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. The stock has a market cap of $79.32 million, a PE ratio of -1.36 and a beta of 1.23. Akoya Biosciences has a 12-month low of $1.43 and a 12-month high of $5.41. The business has a 50-day moving average price of $2.46 and a two-hundred day moving average price of $2.58.

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.