Akoya Biosciences, Inc. (NASDAQ:AKYA) Receives $5.43 Consensus Target Price from Analysts

Shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) have been given a consensus rating of “Hold” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.43.

A number of equities research analysts have recently commented on AKYA shares. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $7.00 to $5.00 in a research note on Friday, November 15th. Canaccord Genuity Group cut their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Piper Sandler restated 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.

Akoya Biosciences Stock Performance

Akoya Biosciences stock opened at $2.43 on Monday. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. 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 company has a market capitalization of $120.44 million, a P/E ratio of -2.06 and a beta of 1.22. The stock’s 50 day moving average is $2.50 and its 200 day moving average is $2.53.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds have recently bought and sold shares of AKYA. Bank of New York Mellon Corp grew 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 worth $158,000 after acquiring an additional 9,429 shares during the period. Regal Investment Advisors LLC boosted 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 last quarter. GSA Capital Partners LLP grew its position in Akoya Biosciences by 87.4% in the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock worth $845,000 after purchasing an additional 144,903 shares during the period. State Street Corp raised its stake in Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Akoya Biosciences by 320.9% during the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after buying an additional 30,095 shares during the period. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Company Profile

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.