Brokers Issue Forecasts for Akoya Biosciences, Inc.’s Q2 2024 Earnings (NASDAQ:AKYA)

Akoya Biosciences, Inc. (NASDAQ:AKYA) – Research analysts at Capital One Financial issued their Q2 2024 earnings estimates for shares of Akoya Biosciences in a note issued to investors on Thursday, April 11th. Capital One Financial analyst T. Chiang expects that the company will earn ($0.26) per share for the quarter. The consensus estimate for Akoya Biosciences’ current full-year earnings is ($0.86) per share. Capital One Financial also issued estimates for Akoya Biosciences’ Q3 2024 earnings at ($0.20) EPS.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, March 6th. Canaccord Genuity Group restated a “buy” rating and set a $10.00 price target on shares of Akoya Biosciences in a research note on Tuesday, March 5th. Finally, UBS Group upped their price target on shares of Akoya Biosciences from $7.00 to $7.50 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Akoya Biosciences has an average rating of “Moderate Buy” and a consensus price target of $9.07.

Akoya Biosciences Stock Down 0.7 %

Akoya Biosciences stock opened at $3.98 on Monday. Akoya Biosciences has a twelve month low of $3.04 and a twelve month high of $8.80. The firm has a 50 day moving average price of $5.06 and a 200-day moving average price of $4.64. The company has a market capitalization of $195.58 million, a P/E ratio of -2.69 and a beta of 1.48. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 1.41.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings data on Monday, March 4th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Akoya Biosciences had a negative net margin of 65.53% and a negative return on equity of 110.24%. The business had revenue of $26.49 million during the quarter, compared to the consensus estimate of $26.12 million. During the same period in the prior year, the firm posted ($0.50) EPS.

Insiders Place Their Bets

In other Akoya Biosciences news, CEO Brian Mckelligon sold 7,500 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $4.97, for a total value of $37,275.00. Following the sale, the chief executive officer now directly owns 231,868 shares in the company, valued at approximately $1,152,383.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Akoya Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Capital Holdings Plc raised its position in shares of Akoya Biosciences by 4.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,579,756 shares of the company’s stock valued at $7,346,000 after buying an additional 64,286 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Akoya Biosciences by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,408,157 shares of the company’s stock valued at $6,872,000 after purchasing an additional 57,762 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Akoya Biosciences by 19.4% during the 2nd quarter. BlackRock Inc. now owns 1,189,850 shares of the company’s stock valued at $8,793,000 after purchasing an additional 193,305 shares during the last quarter. Kent Lake Capital LLC bought a new position in shares of Akoya Biosciences during the 3rd quarter valued at $3,471,000. Finally, Millennium Management LLC grew its holdings in shares of Akoya Biosciences by 6.1% during the 2nd quarter. Millennium Management LLC now owns 718,063 shares of the company’s stock valued at $9,227,000 after purchasing an additional 41,261 shares during the last quarter. 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.