Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Drops By 6.5%

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 2,030,000 shares, a decrease of 6.5% from the January 15th total of 2,170,000 shares. Based on an average daily trading volume, of 648,900 shares, the short-interest ratio is currently 3.1 days. Currently, 9.9% of the company's stock are short sold.

Akoya Biosciences Stock Performance

AKYA stock traded down $0.14 during trading on Thursday, reaching $2.06. The company had a trading volume of 699,287 shares, compared to its average volume of 994,948. The company has a market cap of $102.11 million, a price-to-earnings ratio of -1.75 and a beta of 1.23. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. 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 firm has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $2.61.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AKYA shares. Canaccord Genuity Group cut Akoya Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler reissued an "overweight" rating and set a $3.00 price target (down from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Finally, Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and cut their price objective for the stock from $7.00 to $5.00 in a research report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $5.43.

Institutional Trading of Akoya Biosciences

Several large investors have recently added to or reduced their stakes in AKYA. GSA Capital Partners LLP lifted 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 period. State Street Corp raised its position in Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company's stock worth $1,233,000 after buying an additional 18,361 shares during the last quarter. Barclays PLC lifted its stake in 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 during the period. SG Americas Securities LLC purchased a new stake in shares of Akoya Biosciences in the 4th quarter valued at $28,000. Finally, SVB Wealth LLC acquired a new stake in shares of Akoya Biosciences in the fourth quarter worth $1,180,000. 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.