Akoya Biosciences (NASDAQ:AKYA) Given “Overweight” Rating at Piper Sandler

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

AKYA has been the subject of several other reports. Canaccord Genuity Group decreased 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 note on Friday. Craig Hallum lowered Akoya Biosciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $7.00 to $5.00 in a report on Friday. Morgan Stanley downgraded shares of Akoya Biosciences from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $4.00 to $3.00 in a research 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. Finally, JPMorgan Chase & Co. lowered Akoya Biosciences from an “overweight” rating to a “neutral” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.43.

Akoya Biosciences Trading Up 0.5 %

Shares of Akoya Biosciences stock traded up $0.01 during mid-day trading on Tuesday, hitting $2.10. 66,277 shares of the stock were exchanged, compared to its average volume of 225,898. The stock has a market capitalization of $104.08 million, a price-to-earnings ratio of -1.78 and a beta of 1.34. The company has a current ratio of 2.75, a quick ratio of 1.85 and a debt-to-equity ratio of 5.62. Akoya Biosciences has a twelve month low of $1.88 and a twelve month high of $6.31. The company has a 50-day simple moving average of $2.90 and a 200 day simple moving average of $2.62.

Institutional Trading of Akoya Biosciences

Hedge funds have recently modified their holdings of the business. 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 purchasing an additional 7,340 shares in the last quarter. Barclays PLC raised its position in shares of 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 purchasing an additional 30,095 shares during the period. Bank of New York Mellon Corp lifted its position in 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 last quarter. GSA Capital Partners LLP lifted its position 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 last quarter. Finally, State Street Corp boosted its position in shares of Akoya Biosciences by 4.2% in the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after acquiring an additional 18,361 shares during the period. Hedge funds and other institutional investors own 79.42% of the company’s stock.

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.