Akoya Biosciences' (AKYA) Overweight Rating Reiterated at Piper Sandler

Akoya Biosciences (NASDAQ:AKYA - Get Free Report)'s stock had its "overweight" rating reiterated by Piper Sandler in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock, down from their previous price objective of $4.00. Piper Sandler's target price would suggest a potential upside of 38.89% from the stock's previous close.

AKYA has been the topic of several other reports. Morgan Stanley lowered shares of Akoya Biosciences from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $4.00 to $3.00 in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered shares of Akoya Biosciences from an "overweight" rating to a "neutral" rating in a research note on Tuesday, August 6th. Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and decreased their price objective for the company from $7.00 to $5.00 in a research report on Friday. Canaccord Genuity Group reduced their target price on shares of Akoya Biosciences from $6.00 to $3.50 and set a "buy" rating for the company in a report on Friday. Finally, BTIG Research cut shares of Akoya Biosciences from a "buy" rating to a "neutral" rating in a research report on Tuesday, August 6th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.43.

Akoya Biosciences Price Performance

Akoya Biosciences stock traded up $0.07 during trading hours on Tuesday, hitting $2.16. 217,424 shares of the stock were exchanged, compared to its average volume of 226,573. 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 capitalization of $107.06 million, a P/E ratio of -1.83 and a beta of 1.34. Akoya Biosciences has a 12 month low of $1.88 and a 12 month high of $6.31. The business's 50-day moving average is $2.89 and its two-hundred day moving average is $2.60.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AKYA. Vanguard Group Inc. raised its stake in Akoya Biosciences by 3.3% during the first quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company's stock valued at $6,821,000 after buying an additional 46,131 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Akoya Biosciences in the first quarter worth $2,724,000. State Street Corp grew its holdings in Akoya Biosciences by 4.2% during 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. GSA Capital Partners LLP grew its holdings in Akoya Biosciences by 87.4% during the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company's stock valued at $845,000 after purchasing an additional 144,903 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Akoya Biosciences by 16.2% in 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 period. 79.42% of the stock is owned by hedge funds and other institutional investors.

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.