Akoya Biosciences, Inc. (NASDAQ:AKYA) Short Interest Up 20.7% in December

Akoya Biosciences, Inc. (NASDAQ:AKYA) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,810,000 shares, an increase of 20.7% from the November 30th total of 1,500,000 shares. Approximately 9.1% of the shares of the company are short sold. Based on an average daily volume of 229,100 shares, the days-to-cover ratio is presently 7.9 days.

Akoya Biosciences Price Performance

Shares of AKYA stock traded down $0.07 during mid-day trading on Friday, hitting $2.39. 105,954 shares of the stock were exchanged, compared to its average volume of 237,286. Akoya Biosciences has a 52-week low of $1.88 and a 52-week 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 cap of $118.46 million, a PE ratio of -2.03 and a beta of 1.22. The firm has a fifty day moving average of $2.55 and a 200 day moving average of $2.52.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Canaccord Genuity Group dropped their target price on Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research report on Friday, November 15th. Craig Hallum lowered shares of Akoya Biosciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $7.00 to $5.00 in a research note on Friday, November 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $3.00 price target (down from $4.00) on shares of Akoya Biosciences in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.43.

Institutional Trading of Akoya Biosciences

Several institutional investors have recently bought and sold shares of the business. Regal Investment Advisors LLC lifted its position in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after buying an additional 7,340 shares in the last quarter. Barclays PLC lifted its holdings in Akoya Biosciences by 320.9% during the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after purchasing an additional 30,095 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 valued at $158,000 after purchasing an additional 9,429 shares during the period. GSA Capital Partners LLP increased its stake in shares of Akoya Biosciences by 87.4% during the third 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 in the last quarter. Finally, State Street Corp lifted its stake in Akoya Biosciences by 4.2% in 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 in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

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.