Akoya Biosciences' (AKYA) "Overweight" Rating Reaffirmed at Stephens

Akoya Biosciences (NASDAQ:AKYA - Get Free Report)'s stock had its "overweight" rating reaffirmed by investment analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They presently have a $3.50 target price on the stock. Stephens' price target suggests a potential upside of 105.88% from the stock's current price.

AKYA has been the topic of a number of other reports. 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 cut Akoya Biosciences from an "overweight" rating to a "neutral" rating and set a $2.40 target price on the stock. in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $3.90.

Akoya Biosciences Stock Performance

AKYA traded up $0.02 during trading hours on Tuesday, hitting $1.70. 179,811 shares of the stock were exchanged, compared to its average volume of 347,521. The stock has a 50-day simple moving average of $2.24 and a 200-day simple moving average of $2.50. Akoya Biosciences has a 12 month low of $1.39 and a 12 month high of $5.00. The stock has a market cap of $84.69 million, a price-to-earnings ratio of -1.44 and a beta of 1.32. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85.

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Akoya Biosciences (NASDAQ:AKYA - Get Free Report) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.17) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $21.34 million. Analysts anticipate that Akoya Biosciences will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AKYA. Intech Investment Management LLC acquired a new position in shares of Akoya Biosciences during the fourth quarter valued at $27,000. SG Americas Securities LLC acquired a new position in shares of Akoya Biosciences during the fourth quarter valued at $28,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Akoya Biosciences during the fourth quarter valued at $31,000. Bank of America Corp DE increased its holdings 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 valued at $67,000 after purchasing an additional 8,258 shares during the period. Finally, Barclays PLC grew its holdings in Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company's stock worth $107,000 after acquiring an additional 30,095 shares during the period. 79.42% of the stock is owned by institutional investors and hedge funds.

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.