Canaccord Genuity Group Downgrades Akoya Biosciences (NASDAQ:AKYA) to Hold

Canaccord Genuity Group lowered shares of Akoya Biosciences (NASDAQ:AKYA) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

AKYA has been the topic of several other research reports. Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and set a $3.00 target price (down from $4.00) on shares of Akoya Biosciences in a research report on Tuesday, November 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.43.

Akoya Biosciences Trading Down 11.3 %

Shares of AKYA stock opened at $2.60 on Monday. The company has a market capitalization of $128.86 million, a price-to-earnings ratio of -2.20 and a beta of 1.18. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. The firm has a 50-day moving average price of $2.48 and a 200 day moving average price of $2.54. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Regal Investment Advisors LLC grew its position in Akoya Biosciences by 64.3% during the second quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock valued at $44,000 after acquiring an additional 7,340 shares during the period. Barclays PLC raised its holdings in shares of Akoya Biosciences by 320.9% in the 3rd quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after purchasing an additional 30,095 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 9,429 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Akoya Biosciences by 87.4% during the 3rd 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 during the period. Finally, State Street Corp grew its holdings in shares of Akoya Biosciences by 4.2% during the 3rd quarter. State Street Corp now owns 453,296 shares of the company’s stock worth $1,233,000 after purchasing an additional 18,361 shares during the period. 79.42% of the stock is 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.