Akoya Biosciences, Inc. (NASDAQ:AKYA) Position Increased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in shares of Akoya Biosciences, Inc. (NASDAQ:AKYA) by 291.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,408 shares of the company’s stock after purchasing an additional 7,746 shares during the period. Tower Research Capital LLC TRC’s holdings in Akoya Biosciences were worth $51,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Polar Capital Holdings Plc grew its position in shares of Akoya Biosciences by 4.2% during the third 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. Schonfeld Strategic Advisors LLC grew its position in shares of Akoya Biosciences by 5.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 129,500 shares of the company’s stock worth $602,000 after acquiring an additional 7,200 shares during the last quarter. Kent Lake Capital LLC bought a new position in shares of Akoya Biosciences during the third quarter worth about $3,471,000. Nisa Investment Advisors LLC lifted its holdings in Akoya Biosciences by 10,169.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 6,059 shares of the company’s stock worth $30,000 after purchasing an additional 6,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Akoya Biosciences by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 132,834 shares of the company’s stock worth $618,000 after purchasing an additional 10,233 shares during the period. Institutional investors own 79.42% of the company’s stock.

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 stock was sold at an average price of $4.97, for a total value of $37,275.00. Following the transaction, the chief executive officer now owns 231,868 shares in the company, valued at approximately $1,152,383.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AKYA. JPMorgan Chase & Co. reduced their price objective on shares of Akoya Biosciences from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Wednesday, March 6th. UBS Group upped their price objective on shares of Akoya Biosciences from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Akoya Biosciences in a report on Tuesday, March 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.07.

Akoya Biosciences Price Performance

NASDAQ AKYA traded down $0.04 on Tuesday, reaching $3.82. The company’s stock had a trading volume of 117,370 shares, compared to its average volume of 190,479. Akoya Biosciences, Inc. has a twelve month low of $3.04 and a twelve month high of $8.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 2.94 and a current ratio of 3.45. The stock has a market cap of $188.63 million, a PE ratio of -2.58 and a beta of 1.48. The firm’s 50 day moving average is $4.66 and its two-hundred day moving average is $4.64.

Akoya Biosciences (NASDAQ:AKYA) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned ($0.50) EPS. As a group, sell-side analysts predict that Akoya Biosciences, Inc. will post -0.86 EPS for the current year.

Akoya Biosciences 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.