Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Update

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a large growth in short interest in November. As of November 30th, there was short interest totalling 1,500,000 shares, a growth of 18.1% from the November 15th total of 1,270,000 shares. Currently, 7.5% of the shares of the stock are short sold. Based on an average trading volume of 228,600 shares, the short-interest ratio is presently 6.6 days.

Institutional Investors Weigh In On Akoya Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its position in 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 buying an additional 144,903 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after acquiring an additional 46,131 shares in the last quarter. Barclays PLC increased its holdings 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 in the last quarter. State Street Corp raised its position in Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after purchasing an additional 18,361 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Akoya Biosciences by 16.2% during 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 in the last quarter. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Stock Performance

NASDAQ:AKYA opened at $2.27 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The firm has a market capitalization of $112.51 million, a PE ratio of -1.92 and a beta of 1.22. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The stock’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.50.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and set a $3.00 price objective (down from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Finally, Craig Hallum lowered shares of Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their target price for the company from $7.00 to $5.00 in a report on Friday, November 15th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.43.

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.