Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 20.7% in December

Akoya Biosciences, Inc. (NASDAQ:AKYA - Get Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,810,000 shares, an increase of 20.7% from the November 30th total of 1,500,000 shares. Approximately 9.1% of the shares of the company are short sold. Based on an average daily trading volume, of 229,100 shares, the short-interest ratio is presently 7.9 days.

Analysts Set New Price Targets

A number of brokerages have commented on AKYA. Piper Sandler restated an "overweight" rating and issued a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Canaccord Genuity Group lowered their price objective on Akoya Biosciences from $6.00 to $3.50 and set a "buy" rating for the company in a research note on Friday, November 15th. Finally, Craig Hallum cut Akoya Biosciences from a "buy" rating to a "hold" rating and cut their target price for the company from $7.00 to $5.00 in a research note on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $5.43.

Akoya Biosciences Stock Performance

AKYA traded down $0.07 during trading hours on Friday, hitting $2.39. The company's stock had a trading volume of 105,954 shares, compared to its average volume of 237,286. The company has a 50-day simple moving average of $2.55 and a 200 day simple moving average of $2.52. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $118.46 million, a PE ratio of -2.03 and a beta of 1.22. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Regal Investment Advisors LLC lifted its holdings in Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company's stock worth $44,000 after purchasing an additional 7,340 shares during the period. Barclays PLC raised its position in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company's stock worth $107,000 after buying an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Akoya Biosciences by 16.2% in the 2nd 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. GSA Capital Partners LLP boosted its holdings in shares of Akoya Biosciences by 87.4% in the third quarter. GSA Capital Partners LLP now owns 310,669 shares of the company's stock valued at $845,000 after acquiring an additional 144,903 shares in the last quarter. Finally, State Street Corp increased its stake 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 valued at $1,233,000 after acquiring an additional 18,361 shares during the period. 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.