Akoya Biosciences (NASDAQ:AKYA) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley cut shares of Akoya Biosciences (NASDAQ:AKYA) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $3.00 price objective on the stock, down from their previous price objective of $4.00.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price target on shares of Akoya Biosciences from $10.00 to $6.00 and set a buy rating for the company in a report on Tuesday, May 14th. JPMorgan Chase & Co. lowered Akoya Biosciences from an overweight rating to a neutral rating in a research report on Tuesday. BTIG Research lowered Akoya Biosciences from a buy rating to a neutral rating in a report on Tuesday. Finally, Craig Hallum lowered their target price on Akoya Biosciences from $7.50 to $7.00 and set a buy rating on the stock in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Akoya Biosciences currently has a consensus rating of Moderate Buy and a consensus target price of $7.06.

Akoya Biosciences Stock Up 6.6 %

Shares of NASDAQ:AKYA opened at $2.09 on Tuesday. Akoya Biosciences has a 1 year low of $1.88 and a 1 year high of $6.55. The company has a debt-to-equity ratio of 2.33, a current ratio of 3.07 and a quick ratio of 2.38. The business’s 50-day moving average is $2.25 and its 200-day moving average is $3.72. The company has a market capitalization of $103.22 million, a price-to-earnings ratio of -1.42 and a beta of 1.34.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). The firm had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.61 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. During the same period in the previous year, the firm earned ($0.51) earnings per share. Equities research analysts predict that Akoya Biosciences will post -0.99 earnings per share for the current year.

Institutional Trading of Akoya Biosciences

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Akoya Biosciences by 10,169.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after purchasing an additional 6,000 shares during the last quarter. Peddock Capital Advisors LLC lifted its position in shares of Akoya Biosciences by 546.2% during the 4th quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock worth $1,419,000 after buying an additional 245,728 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Akoya Biosciences by 176.0% in the 4th quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock worth $564,000 after buying an additional 73,737 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Akoya Biosciences by 291.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,408 shares of the company’s stock worth $51,000 after acquiring an additional 7,746 shares during the period. Finally, Parkman Healthcare Partners LLC boosted its position in Akoya Biosciences by 28.4% in the fourth 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. Institutional investors own 79.42% of the company’s stock.

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.