Brokerages Set Akoya Biosciences, Inc. (NASDAQ:AKYA) PT at $7.79

Akoya Biosciences, Inc. (NASDAQ:AKYAGet Free Report) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.79.

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Canaccord Genuity Group decreased their target price on shares of Akoya Biosciences from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. JPMorgan Chase & Co. lowered their price target on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 6th. Finally, BTIG Research reduced their price objective on Akoya Biosciences from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, May 14th.

Read Our Latest Research Report on Akoya Biosciences

Insider Buying and Selling at Akoya Biosciences

In other news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $4.97, for a total transaction of $37,275.00. Following the sale, the chief executive officer now directly owns 231,868 shares of the company’s stock, valued at approximately $1,152,383.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 7.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Kent Lake Capital LLC purchased a new stake in Akoya Biosciences in the 3rd quarter worth $3,471,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of Akoya Biosciences during the first quarter worth about $2,724,000. Peddock Capital Advisors LLC increased its stake in shares of Akoya Biosciences by 546.2% during the fourth quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock worth $1,419,000 after purchasing an additional 245,728 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in shares of Akoya Biosciences by 28.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 674,787 shares of the company’s stock worth $3,293,000 after purchasing an additional 149,164 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Akoya Biosciences by 176.0% in the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock valued at $564,000 after buying an additional 73,737 shares in the last quarter. 79.42% of the stock is owned by institutional investors and hedge funds.

Akoya Biosciences Trading Up 1.3 %

NASDAQ AKYA opened at $1.97 on Friday. The stock has a market cap of $97.05 million, a P/E ratio of -1.34 and a beta of 1.52. The company has a current ratio of 3.07, a quick ratio of 2.38 and a debt-to-equity ratio of 2.33. Akoya Biosciences has a 12-month low of $1.88 and a 12-month high of $8.80. The company has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $4.60.

Akoya Biosciences (NASDAQ:AKYAGet Free Report) last issued its earnings results on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $26.49 million during the quarter, compared to analyst estimates of $26.12 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. During the same quarter last year, the business posted ($0.50) EPS. On average, analysts forecast that Akoya Biosciences will post -0.91 earnings per share for the current year.

Akoya Biosciences Company Profile

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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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Analyst Recommendations for Akoya Biosciences (NASDAQ:AKYA)

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