The Vanguard Group, Inc. recently announced the acquisition of new stake in Akoya Biosciences Inc. (NASDAQ:AKYA). The institutional investor has increased its shareholding in the Healthcare company by 18.60% to 0.9 million shares with purchase of 0.14 million shares. This fresh investment now brings its stake to 2.36% valued currently at $8.57 million. In addition, BlackRock Fund Advisors raised its holdings by 0.18 million to 0.89 million shares. And RTW Investments LP has lifted its position by 107.15% or 0.25 million shares – to 0.48 million shares.
With over 0.13 million Akoya Biosciences Inc. (AKYA) shares trading Friday and a closing price of $10.50 on the day, the dollar volume was approximately $1.42 million. Currently, there are 37.90M common shares owned by the public and among those 33.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for AKYA have a consensus price objective of $19.29. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $16.00. The average price target is 45.57% above its recent price level and an upside to the estimated low will see the stock gain 34.38% over that period. But an upside of 58.0% will see the stock hit the forecast high price target while median target price for the stock is $18.00.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 502,220 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 173,769 shares.
The top 3 mutual fund holders in Akoya Biosciences Inc. are Polar Capital Funds Plc – Biotech, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Polar Capital Funds Plc – Biotech owns 1.0 million shares of the company’s stock, all valued at over $9.57 million. iShares Russell 2000 ETF sold 3477.0 shares to bring its total holdings to over 0.33 million shares at a value of $3.17 million. iShares Russell 2000 ETF now owns shares totaling to 0.87% of the shares outstanding.
Shares of Akoya Biosciences Inc. (NASDAQ: AKYA) opened at $10.73, up $0.23 from a prior closing price of $10.50. The company’s stock has a 5-day price change of -1.32% and -16.27% over the past three months. AKYA shares are trading 9.72% year to date (YTD), with the 12-month market performance down to -11.32% lower. It has a 12-month low price of $8.02 and touched a high of $16.57 over the same period. AKYA has an average intraday trading volume of 127.27K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.30%, -9.32%, and -11.48% respectively.
Institutional ownership of Akoya Biosciences Inc. (NASDAQ: AKYA) shares accounts for 80.20% of the company’s 37.90M shares outstanding. Mutual fund holders own 23.39%, while other institutional holders and individual stakeholders account for 62.59% and 11.32% respectively.
It has a market capitalization of $398.48M. The earnings-per-share (ttm) stands at -$1.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.68% over the week and 8.40% over the month.
Analysts forecast that Akoya Biosciences Inc. (AKYA) will achieve an EPS of -$0.43 for the current quarter, -$0.41 for the next quarter and -$1.51 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.52 while analysts give the company a high EPS estimate of -$0.3. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -170.50%, and 7.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Akoya Biosciences Inc. (AKYA) as a “Strong Buy” at a consensus score of 1.60. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AKYA, a number of firms have released research notes about the stock. CapitalOne stated their Overweight rating for the stock in a research note on November 03, 2022, with the firm’s price target at $19. Stephens coverage for the Akoya Biosciences Inc. (AKYA) stock in a research note released on October 06, 2022 offered a Overweight rating with a price target of $16. BTIG Research was of a view on June 22, 2022 that the stock is Buy, while Piper Sandler gave the stock Overweight rating on January 06, 2022, issuing a price target of $23. Piper Sandler on their part issued Overweight rating on May 11, 2021.