Akoya Biosciences (NASDAQ:AKYA) PT Lowered to $10.00

Akoya Biosciences (NASDAQ:AKYAFree Report) had its price target reduced by JPMorgan Chase & Co. from $12.00 to $10.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on AKYA. UBS Group raised their target price on Akoya Biosciences from $7.00 to $7.50 and gave the stock a buy rating in a research report on Tuesday. Stephens dropped their target price on Akoya Biosciences from $14.00 to $9.00 and set an overweight rating on the stock in a research report on Monday, November 13th. Guggenheim started coverage on Akoya Biosciences in a research report on Thursday, December 14th. They issued a neutral rating on the stock. Canaccord Genuity Group reissued a buy rating and issued a $10.00 target price on shares of Akoya Biosciences in a research report on Tuesday. Finally, Piper Sandler dropped their target price on Akoya Biosciences from $11.00 to $8.00 and set an overweight rating on the stock in a research report on Monday, November 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Akoya Biosciences has an average rating of Moderate Buy and a consensus target price of $9.07.

Get Our Latest Analysis on AKYA

Akoya Biosciences Price Performance

NASDAQ AKYA opened at $5.00 on Wednesday. Akoya Biosciences has a one year low of $3.04 and a one year high of $11.00. The stock has a 50-day moving average of $5.29 and a 200 day moving average of $4.68. The company has a market capitalization of $245.70 million, a price-to-earnings ratio of -3.38 and a beta of 1.53. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.76 and a current ratio of 3.45.

Akoya Biosciences (NASDAQ:AKYAGet Free Report) last announced its earnings results on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.05. The business had revenue of $26.49 million for the quarter, compared to analysts’ expectations of $26.12 million. Akoya Biosciences had a negative return on equity of 110.24% and a negative net margin of 65.53%. During the same period last year, the firm posted ($0.50) earnings per share. On average, sell-side analysts forecast that Akoya Biosciences will post -0.89 EPS for the current year.

Insider Activity

In other news, CEO Brian Mckelligon sold 7,500 shares of Akoya Biosciences stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $4.48, for a total transaction of $33,600.00. Following the transaction, the chief executive officer now directly owns 152,563 shares of the company’s stock, valued at approximately $683,482.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Akoya Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. raised its stake in Akoya Biosciences by 10.8% during the 2nd quarter. American International Group Inc. now owns 7,381 shares of the company’s stock valued at $95,000 after purchasing an additional 718 shares during the period. JPMorgan Chase & Co. raised its stake in Akoya Biosciences by 34.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,431 shares of the company’s stock valued at $108,000 after purchasing an additional 2,138 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Akoya Biosciences by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 125,216 shares of the company’s stock valued at $1,198,000 after purchasing an additional 2,350 shares during the period. UBS Group AG raised its stake in Akoya Biosciences by 154.9% during the 1st quarter. UBS Group AG now owns 4,158 shares of the company’s stock valued at $34,000 after purchasing an additional 2,527 shares during the period. Finally, Deutsche Bank AG raised its stake in Akoya Biosciences by 34.3% during the 1st quarter. Deutsche Bank AG now owns 10,435 shares of the company’s stock valued at $85,000 after purchasing an additional 2,665 shares during the period. Institutional investors own 39.46% of the company’s stock.

About Akoya Biosciences

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Akoya Biosciences (NASDAQ:AKYA)

Receive News & Ratings for Akoya Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoya Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.