Akoya Biosciences (NASDAQ:AKYA) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Akoya Biosciences (NASDAQ:AKYA) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Akoya Biosciences Inc. offers comprehensive single-cell imaging solutions which allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and treatment response. The company offer distinct solutions, the CODEX(R) and Phenoptics(TM) platforms, to serve the diverse needs of researchers across discovery, translational and clinical research. Akoya Biosciences Inc. is based in MARLBOROUGH, Mass. “

NASDAQ AKYA opened at $12.41 on Tuesday. The company has a current ratio of 8.42, a quick ratio of 8.07 and a debt-to-equity ratio of 0.24. The firm has a 50-day simple moving average of $13.11 and a 200 day simple moving average of $15.13. Akoya Biosciences has a twelve month low of $11.12 and a twelve month high of $28.96.

Akoya Biosciences (NASDAQ:AKYA) last released its earnings results on Sunday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05). Akoya Biosciences had a negative net margin of 59.91% and a negative return on equity of 67.77%. The company had revenue of $13.48 million during the quarter, compared to the consensus estimate of $12.93 million. As a group, sell-side analysts expect that Akoya Biosciences will post -2.19 earnings per share for the current fiscal year.

In other Akoya Biosciences news, Director Robert G. Shepler purchased 35,000 shares of the company’s stock in a transaction that occurred on Thursday, November 18th. The stock was purchased at an average price of $12.60 per share, with a total value of $441,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Garry Ph.D. Nolan sold 25,000 shares of the stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $12.67, for a total transaction of $316,750.00. The disclosure for this sale can be found here. In the last quarter, insiders purchased 60,073 shares of company stock valued at $770,188.

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its holdings in shares of Akoya Biosciences by 796.9% during the third quarter. UBS Group AG now owns 2,000 shares of the company’s stock worth $28,000 after buying an additional 1,777 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Akoya Biosciences during the second quarter worth approximately $88,000. Bank of America Corp DE acquired a new stake in shares of Akoya Biosciences during the second quarter worth approximately $93,000. JPMorgan Chase & Co. acquired a new stake in shares of Akoya Biosciences during the second quarter worth approximately $193,000. Finally, California State Teachers Retirement System acquired a new stake in shares of Akoya Biosciences during the second quarter worth approximately $203,000. 27.24% of the stock is owned by institutional investors.

About Akoya Biosciences

Akoya Biosciences, Inc, a life sciences technology company, provides spatial biology solutions focused on transforming discovery and clinical research. The company offers single-cell imaging solutions that allow researchers to phenotype cells with spatial context and visualize how they organize and interact to influence disease progression and treatment response.

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