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

Akoya Biosciences, Inc. (NASDAQ:AKYA) – Capital One Financial issued their Q2 2024 EPS estimates for shares of Akoya Biosciences in a research report issued on Thursday, April 11th. Capital One Financial analyst T. Chiang forecasts that the company will post earnings per share of ($0.26) 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.

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

Akoya Biosciences Trading Down 0.7 %

AKYA stock opened at $3.98 on Monday. The company has a market capitalization of $195.58 million, a PE ratio of -2.69 and a beta of 1.48. Akoya Biosciences has a 12 month low of $3.04 and a 12 month high of $8.80. The firm’s 50-day moving average is $5.06 and its 200 day moving average is $4.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.45 and a quick ratio of 2.94.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AKYA. Bank of New York Mellon Corp grew its position in shares of Akoya Biosciences by 24.1% in the 1st quarter. Bank of New York Mellon Corp now owns 46,543 shares of the company’s stock worth $511,000 after buying an additional 9,027 shares during the last quarter. BlackRock Inc. grew its position in shares of Akoya Biosciences by 1.4% in the 1st quarter. BlackRock Inc. now owns 777,001 shares of the company’s stock worth $8,538,000 after buying an additional 10,737 shares during the last quarter. Vanguard Group Inc. boosted its stake in Akoya Biosciences by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 700,823 shares of the company’s stock worth $7,702,000 after purchasing an additional 25,845 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Akoya Biosciences by 216.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 159,300 shares of the company’s stock worth $1,751,000 after purchasing an additional 109,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Akoya Biosciences by 12.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,401 shares of the company’s stock worth $741,000 after purchasing an additional 7,243 shares in the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.

Insider Buying and Selling at Akoya Biosciences

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