Short Interest in Akoya Biosciences, Inc. (NASDAQ:AKYA) Expands By 20.7%

Akoya Biosciences, Inc. (NASDAQ:AKYA) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,810,000 shares, a growth of 20.7% from the November 30th total of 1,500,000 shares. Based on an average daily trading volume, of 229,100 shares, the short-interest ratio is presently 7.9 days. Approximately 9.1% of the company’s shares are short sold.

Akoya Biosciences Stock Down 2.8 %

NASDAQ AKYA traded down $0.07 during midday trading on Friday, hitting $2.39. 105,954 shares of the company traded hands, compared to its average volume of 237,286. Akoya Biosciences has a 52 week low of $1.88 and a 52 week high of $6.31. The company’s 50-day simple moving average is $2.55 and its 200-day simple moving average is $2.52. The company has a market cap of $118.46 million, a PE ratio of -2.03 and a beta of 1.22. The company has a debt-to-equity ratio of 5.62, a current ratio of 2.75 and a quick ratio of 1.85.

Hedge Funds Weigh In On Akoya Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings 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. Barclays PLC boosted its stake in Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock valued at $107,000 after acquiring an additional 30,095 shares in the last quarter. State Street Corp grew its holdings in Akoya Biosciences by 4.2% in the third 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 last quarter. Bank of New York Mellon Corp increased its position in shares of Akoya Biosciences by 16.2% during the second quarter. Bank of New York Mellon Corp now owns 67,468 shares of the company’s stock worth $158,000 after purchasing an additional 9,429 shares in the last quarter. Finally, Regal Investment Advisors LLC lifted its holdings 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 valued at $44,000 after purchasing an additional 7,340 shares during the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AKYA. Canaccord Genuity Group dropped their target price on shares of Akoya Biosciences from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Friday, November 15th. Piper Sandler reissued an “overweight” rating and issued a $3.00 price objective (down previously from $4.00) on shares of Akoya Biosciences in a research note on Tuesday, November 19th. Finally, Craig Hallum cut Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $5.00 in a report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.43.

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.