Akoya Biosciences (NASDAQ:AKYA) Issues Earnings Results, Misses Expectations By $0.02 EPS

Akoya Biosciences (NASDAQ:AKYAGet Free Report) announced its quarterly earnings data on Monday. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02), Zacks reports. The firm had revenue of $21.34 million during the quarter, compared to analyst estimates of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%.

Akoya Biosciences Price Performance

Akoya Biosciences stock opened at $1.56 on Tuesday. The firm has a market capitalization of $77.33 million, a P/E ratio of -1.32 and a beta of 1.32. Akoya Biosciences has a 1 year low of $1.43 and a 1 year high of $5.16. The business has a 50-day moving average of $2.32 and a 200-day moving average of $2.53. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62.

Hedge Funds Weigh In On Akoya Biosciences

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE lifted its holdings in Akoya Biosciences, Inc. (NASDAQ:AKYAFree Report) by 39.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the quarter. Bank of America Corp DE owned about 0.06% of Akoya Biosciences worth $67,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AKYA shares. Canaccord Genuity Group lowered Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price objective for the company. in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Akoya Biosciences currently has an average rating of “Hold” and an average price target of $3.98.

Check Out Our Latest Stock Report on AKYA

About Akoya Biosciences

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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.

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Earnings History for Akoya Biosciences (NASDAQ:AKYA)

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