Akoya Biosciences (NASDAQ:AKYA) Downgraded by Canaccord Genuity Group to Hold

Canaccord Genuity Group downgraded shares of Akoya Biosciences (NASDAQ:AKYA - Free Report) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on AKYA. Piper Sandler restated an "overweight" rating and issued a $3.00 price target (down previously from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Craig Hallum downgraded shares of Akoya Biosciences from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.43.

Akoya Biosciences Stock Up 5.0 %

NASDAQ AKYA traded up $0.13 during mid-day trading on Monday, reaching $2.73. 425,930 shares of the company's stock traded hands, compared to its average volume of 2,534,496. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $6.31. The company has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $2.54. The company has a market cap of $135.31 million, a price-to-earnings ratio of -2.31 and a beta of 1.18.

Institutional Investors Weigh In On Akoya Biosciences

Large investors have recently added to or reduced their stakes in the stock. Regal Investment Advisors LLC grew its position in shares of Akoya Biosciences by 64.3% during the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company's stock worth $44,000 after acquiring an additional 7,340 shares during the last quarter. Barclays PLC grew its position in Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company's stock worth $107,000 after purchasing an additional 30,095 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $158,000 after purchasing an additional 9,429 shares during the period. GSA Capital Partners LLP raised 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 valued at $845,000 after buying an additional 144,903 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Akoya Biosciences by 4.2% during the third 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 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.