Akoya Biosciences (NASDAQ:AKYA) Stock Rating Lowered by Craig Hallum

Akoya Biosciences (NASDAQ:AKYA) was downgraded by Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat Ratings reports. They presently have a $5.00 price target on the stock, down from their previous price target of $7.00. Craig Hallum’s target price points to a potential upside of 59.74% from the stock’s current price.

AKYA has been the topic of a number of other research reports. Piper Sandler dropped their price objective on Akoya Biosciences from $6.00 to $4.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. BTIG Research downgraded shares of Akoya Biosciences from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. Finally, Morgan Stanley cut shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $4.00 to $3.00 in a report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.93.

Akoya Biosciences Stock Performance

NASDAQ AKYA opened at $3.13 on Friday. The stock has a market capitalization of $154.94 million, a price-to-earnings ratio of -2.54 and a beta of 1.34. The business’s 50 day moving average is $2.91 and its two-hundred day moving average is $2.66. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $6.31. The company has a current ratio of 2.73, a quick ratio of 1.98 and a debt-to-equity ratio of 3.43.

Hedge Funds Weigh In On Akoya Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Regal Investment Advisors LLC grew its position in shares of Akoya Biosciences by 64.3% in the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after purchasing an additional 7,340 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Akoya Biosciences by 16.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock valued at $158,000 after buying an additional 9,429 shares in the last quarter. Vanguard Group Inc. lifted its stake in Akoya Biosciences by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 1,454,288 shares of the company’s stock valued at $6,821,000 after buying an additional 46,131 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Akoya Biosciences by 87.4% during the 3rd 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 during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new position in Akoya Biosciences during the first quarter worth $2,724,000. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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.