Craig Hallum Begins Coverage on Akoya Biosciences (NASDAQ:AKYA)

Craig Hallum initiated coverage on shares of Akoya Biosciences (NASDAQ:AKYA) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $7.50 price target on the stock.

AKYA has been the topic of several other research reports. UBS Group upped their target price on Akoya Biosciences from $7.00 to $7.50 and gave the company a buy rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their target price on shares of Akoya Biosciences from $12.00 to $10.00 and set an overweight rating for the company in a report on Wednesday, March 6th. BTIG Research reduced their price target on Akoya Biosciences from $9.00 to $6.00 and set a buy rating on the stock in a report on Tuesday, May 14th. Morgan Stanley cut their target price on Akoya Biosciences from $8.00 to $4.00 and set an overweight rating on the stock in a report on Monday, June 3rd. Finally, Canaccord Genuity Group decreased their price target on Akoya Biosciences from $10.00 to $6.00 and set a buy rating for the company in a report on Tuesday, May 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $7.25.

Akoya Biosciences Price Performance

Shares of NASDAQ AKYA opened at $2.36 on Friday. Akoya Biosciences has a 1-year low of $1.88 and a 1-year high of $7.68. The company has a current ratio of 3.07, a quick ratio of 2.38 and a debt-to-equity ratio of 2.33. The company has a fifty day moving average price of $2.99 and a 200 day moving average price of $4.30. The firm has a market cap of $116.56 million, a PE ratio of -1.61 and a beta of 1.31.

Akoya Biosciences (NASDAQ:AKYA) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $18.35 million for the quarter, compared to analyst estimates of $24.13 million. Akoya Biosciences had a negative return on equity of 111.80% and a negative net margin of 72.68%. Research analysts predict that Akoya Biosciences will post -0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Akoya Biosciences

Large investors have recently made changes to their positions in the business. CIBC Asset Management Inc raised its position in shares of Akoya Biosciences by 176.0% in the fourth quarter. CIBC Asset Management Inc now owns 115,644 shares of the company’s stock valued at $564,000 after purchasing an additional 73,737 shares during the period. Peddock Capital Advisors LLC boosted its position in Akoya Biosciences by 546.2% during the fourth quarter. Peddock Capital Advisors LLC now owns 290,720 shares of the company’s stock valued at $1,419,000 after buying an additional 245,728 shares during the period. Polar Capital Holdings Plc grew its position in Akoya Biosciences by 4.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock worth $7,346,000 after acquiring an additional 64,286 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Akoya Biosciences by 5.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Kent Lake Capital LLC bought a new stake in Akoya Biosciences in the 3rd quarter worth $3,471,000. 79.42% of the stock is owned by hedge funds and other institutional investors.

Akoya Biosciences Company Profile

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.