Peddock Capital Advisors LLC Boosts Stock Position in Akoya Biosciences, Inc. (NASDAQ:AKYA)

Peddock Capital Advisors LLC grew its holdings in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 546.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,720 shares of the company’s stock after buying an additional 245,728 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Akoya Biosciences were worth $1,419,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Akoya Biosciences by 10,169.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock valued at $30,000 after purchasing an additional 6,000 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Akoya Biosciences by 5.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after purchasing an additional 7,200 shares during the period. Bank of New York Mellon Corp grew its holdings in Akoya Biosciences by 8.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock valued at $618,000 after purchasing an additional 10,233 shares during the last quarter. Kent Lake Capital LLC purchased a new stake in Akoya Biosciences in the 3rd quarter worth about $3,471,000. Finally, Polar Capital Holdings Plc lifted its stake 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 worth $7,346,000 after acquiring an additional 64,286 shares during the last quarter. Institutional investors own 79.42% of the company’s stock.

Akoya Biosciences Stock Up 0.2 %

Shares of AKYA traded up $0.01 during mid-day trading on Wednesday, hitting $4.09. The company’s stock had a trading volume of 30,259 shares, compared to its average volume of 183,343. The company has a current ratio of 3.45, a quick ratio of 2.94 and a debt-to-equity ratio of 1.41. The company’s 50-day moving average is $4.52 and its 200-day moving average is $4.65. Akoya Biosciences, Inc. has a 52-week low of $3.04 and a 52-week high of $8.80. The firm has a market capitalization of $201.96 million, a price-to-earnings ratio of -2.76 and a beta of 1.52.

Akoya Biosciences (NASDAQ:AKYA) last announced its earnings results on Monday, March 4th. The company reported ($0.22) 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 previous year, the company posted ($0.50) earnings per share. On average, equities research analysts forecast that Akoya Biosciences, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group increased their target price on Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $10.00 price objective on shares of Akoya Biosciences in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. dropped their target price 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 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.07.

Insiders Place Their Bets

In other news, CEO Brian Mckelligon sold 7,500 shares of the company’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 in the company, valued at $1,152,383.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.30% 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.