Akoya Biosciences (NASDAQ:AKYA) Issues Earnings Results, Misses Expectations By $0.02 EPS

Akoya Biosciences (NASDAQ:AKYA) announced its quarterly earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.02), Zacks reports. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%.

Akoya Biosciences Stock Up 4.0 %

Shares of AKYA stock traded up $0.06 on Monday, hitting $1.56. 344,100 shares of the stock were exchanged, compared to its average volume of 345,070. 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 market capitalization of $77.33 million, a P/E ratio of -1.32 and a beta of 1.32. The business has a 50-day moving average of $2.34 and a 200 day moving average of $2.53. Akoya Biosciences has a fifty-two week low of $1.43 and a fifty-two week high of $5.16.

Analysts Set New Price Targets

Several brokerages have issued reports on AKYA. Piper Sandler downgraded Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target for the company. in a report on Wednesday, March 5th. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.98.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Akoya Biosciences stock. Bank of America Corp DE boosted its stake in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 39.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,092 shares of the company’s stock after purchasing an additional 8,258 shares during the period. Bank of America Corp DE owned 0.06% of Akoya Biosciences worth $67,000 as of its most recent filing with the SEC. Hedge funds and other 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.