Piper Sandler Reiterates Overweight Rating for Akoya Biosciences (NASDAQ:AKYA)

Akoya Biosciences (NASDAQ:AKYA)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Tuesday,Benzinga reports. They currently have a $3.00 target price on the stock, down from their previous target price of $4.00. Piper Sandler’s target price suggests a potential upside of 42.86% from the stock’s current price.

A number of other brokerages have also weighed in on AKYA. JPMorgan Chase & Co. cut shares of Akoya Biosciences from an “overweight” rating to a “neutral” rating in a report on Tuesday, August 6th. BTIG Research cut Akoya Biosciences from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $4.00 to $3.00 in a research note on Tuesday, August 6th. Canaccord Genuity Group reduced their price objective on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Friday. Finally, Craig Hallum lowered shares of Akoya Biosciences from a “buy” rating to a “hold” rating and dropped their price objective for the company from $7.00 to $5.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.43.

Akoya Biosciences Trading Up 0.5 %

Akoya Biosciences stock traded up $0.01 during trading hours on Tuesday, reaching $2.10. 66,277 shares of the company’s stock traded hands, compared to its average volume of 225,898. The firm’s 50 day moving average is $2.90 and its 200-day moving average is $2.62. The company has a debt-to-equity ratio of 5.62, a quick ratio of 1.85 and a current ratio of 2.75. Akoya Biosciences has a fifty-two week low of $1.88 and a fifty-two week high of $6.31. The firm has a market capitalization of $104.08 million, a price-to-earnings ratio of -1.78 and a beta of 1.34.

Institutional Investors Weigh In On Akoya Biosciences

A number of large investors have recently added to or reduced their stakes in AKYA. Silvercrest Asset Management Group LLC bought a new position in shares of Akoya Biosciences in the first quarter worth $2,724,000. Vanguard Group Inc. increased its holdings 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 during the period. GSA Capital Partners LLP raised its position in shares of Akoya Biosciences by 87.4% in 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Akoya Biosciences by 16.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after acquiring an additional 9,429 shares during the period. Finally, Regal Investment Advisors LLC boosted its position in shares of Akoya Biosciences by 64.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 18,760 shares of the company’s stock worth $44,000 after acquiring an additional 7,340 shares in the last quarter. Institutional investors and hedge funds 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.