Akoya Biosciences (NASDAQ:AKYA) Price Target Cut to $1.65 by Analysts at Piper Sandler

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) had its target price lowered by Piper Sandler from $2.40 to $1.65 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price target would indicate a potential upside of 52.07% from the company's previous close.

Several other brokerages have also issued reports on AKYA. Stephens reaffirmed an "equal weight" rating and set a $1.80 price target (down from $3.50) on shares of Akoya Biosciences in a report on Tuesday, March 25th. 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. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $3.49.

Akoya Biosciences Stock Performance

Shares of AKYA stock traded down $0.02 during trading on Monday, reaching $1.09. The company had a trading volume of 326,068 shares, compared to its average volume of 349,616. The company has a market capitalization of $54.07 million, a PE ratio of -0.92 and a beta of 1.33. Akoya Biosciences has a one year low of $1.01 and a one year high of $4.65. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85. The firm's 50 day simple moving average is $1.56 and its two-hundred day simple moving average is $2.29.

Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.02). Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. The firm had revenue of $21.34 million during the quarter, compared to the consensus estimate of $21.34 million. Sell-side analysts forecast that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

Several institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Akoya Biosciences by 39.6% during the fourth quarter. Bank of America Corp DE now owns 29,092 shares of the company's stock worth $67,000 after purchasing an additional 8,258 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture boosted its holdings in Akoya Biosciences by 1.4% in the fourth quarter. Paragon Associates & Paragon Associates II Joint Venture now owns 801,000 shares of the company's stock valued at $1,834,000 after purchasing an additional 11,000 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Akoya Biosciences during the fourth quarter worth $27,000. SG Americas Securities LLC acquired a new stake in Akoya Biosciences in the fourth quarter valued at approximately $28,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Akoya Biosciences in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 79.42% of the company's stock.

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.