Akoya Biosciences, Inc. (NASDAQ:AKYA) is Paragon Associates & Paragon Associates II Joint Venture’s 7th Largest Position

Paragon Associates & Paragon Associates II Joint Venture grew its stake in Akoya Biosciences, Inc. (NASDAQ:AKYA) by 1.4% during the fourth quarter, HoldingsChannel reports. The fund owned 801,000 shares of the company’s stock after acquiring an additional 11,000 shares during the quarter. Akoya Biosciences comprises about 4.2% of Paragon Associates & Paragon Associates II Joint Venture’s holdings, making the stock its 7th largest position. Paragon Associates & Paragon Associates II Joint Venture’s holdings in Akoya Biosciences were worth $1,834,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in Akoya Biosciences during the fourth quarter valued at approximately $27,000. SG Americas Securities LLC purchased a new stake in Akoya Biosciences during the 4th quarter worth approximately $28,000. Barclays PLC raised its holdings in shares of Akoya Biosciences by 320.9% in the third quarter. Barclays PLC now owns 39,472 shares of the company’s stock worth $107,000 after buying an additional 30,095 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Akoya Biosciences by 295.4% during the fourth quarter. JPMorgan Chase & Co. now owns 48,313 shares of the company’s stock worth $111,000 after buying an additional 36,093 shares during the period. Finally, State Street Corp grew its holdings in shares of Akoya Biosciences by 4.2% during the third quarter. State Street Corp now owns 453,296 shares of the company’s stock valued at $1,233,000 after buying an additional 18,361 shares during the last quarter. 79.42% of the stock is owned by institutional investors.

Akoya Biosciences Stock Performance

Shares of AKYA stock opened at $1.39 on Tuesday. Akoya Biosciences, Inc. has a 52-week low of $1.32 and a 52-week high of $4.69. The company has a quick ratio of 1.85, a current ratio of 2.75 and a debt-to-equity ratio of 5.62. The stock has a market cap of $69.24 million, a PE ratio of -1.18 and a beta of 1.32. The business has a 50-day simple moving average of $2.08 and a 200-day simple moving average of $2.46.

Akoya Biosciences (NASDAQ:AKYA) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The company had revenue of $21.34 million during the quarter, compared to analysts’ expectations of $21.34 million. Akoya Biosciences had a negative return on equity of 162.99% and a negative net margin of 66.77%. On average, equities analysts expect that Akoya Biosciences, Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Piper Sandler cut Akoya Biosciences from an “overweight” rating to a “neutral” rating and set a $2.40 price target for the company. in a research report on Wednesday, March 5th. Canaccord Genuity Group downgraded Akoya Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Stephens reiterated an “equal weight” rating and issued a $1.80 target price (down previously from $3.50) on shares of Akoya Biosciences in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.62.

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.