Akoya Biosciences, Inc. (NASDAQ:AKYA) Given Average Recommendation of “Moderate Buy” by Brokerages

Akoya Biosciences, Inc. (NASDAQ:AKYA) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.21.

Several equities analysts recently commented on the company. Craig Hallum cut their target price on Akoya Biosciences from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley lowered shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. BTIG Research downgraded shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler reduced their price objective on shares of Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th.

Hedge Funds Weigh In On Akoya Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in AKYA. Regal Investment Advisors LLC raised its stake in Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after buying an additional 7,340 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Akoya Biosciences by 16.2% during the 2nd 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. GSA Capital Partners LLP grew its position in shares of Akoya Biosciences by 87.4% in the 3rd quarter. GSA Capital Partners LLP now owns 310,669 shares of the company’s stock valued at $845,000 after purchasing an additional 144,903 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in Akoya Biosciences during the 1st quarter worth approximately $2,724,000. Finally, Vanguard Group Inc. raised its holdings in Akoya Biosciences by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock worth $6,821,000 after buying an additional 46,131 shares during the period. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Stock Down 2.5 %

Shares of AKYA opened at $3.13 on Friday. The company has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $2.65. The company has a debt-to-equity ratio of 3.43, a quick ratio of 1.98 and a current ratio of 2.73. Akoya Biosciences has a 52 week low of $1.88 and a 52 week high of $6.31. The firm has a market capitalization of $154.94 million, a P/E ratio of -2.61 and a beta of 1.34.

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.