Akoya Biosciences Inc. (AKYA) expanding its growth trajectory ahead

Akoya Biosciences Inc. (NASDAQ: AKYA) stock jumped 0.55% on Wednesday to $12.72 against a previous-day closing price of $12.65. With 0.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.14 million shares. The 52-week range on AKYA shows that it touched its highest point at $16.57 and its lowest point at $8.02 during that stretch. It currently has a 1-year price target of $19.29.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AKYA was down-trending over the past week, with a drop of -1.55%, but this was down by -1.40% over a month. Three-month performance dropped to -8.62% while six-month performance rose 27.33%. The stock lost -2.83% in the past year, while it has lost -16.92% so far this year. A look at the trailing 12-month EPS for AKYA yields -1.84 with Next year EPS estimates of -1.66. For the next quarter, that number is -0.43. This implies an EPS growth rate of -170.50% for this year and 8.30% for next year.

Float and Shares Shorts:

At present, 37.90 million AKYA shares are outstanding with a float of 33.15 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.89 million, which was 4.99% higher than short shares on Sep 14, 2022. In addition to Mr. Brian McKelligon as the firm’s Pres, CEO & Director, Dr. Garry P. Nolan Ph.D. serves as its Co-Founder, Independent Director & Head of the Scientific Advisory Board.

Institutional Ownership:

Through their ownership of 79.48% of AKYA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.21% of AKYA, in contrast to 27.48% held by mutual funds. Shares owned by individuals account for 10.59%. As the largest shareholder in AKYA with 9.76% of the stake, Hudson Executive Capital LP holds 3,697,558 shares worth 3,697,558. A second-largest stockholder of AKYA, Blue Water Life Science Advisors, holds 2,104,785 shares, controlling over 5.56% of the firm’s shares. Polar Capital LLP is the third largest shareholder in AKYA, holding 1,315,470 shares or 3.47% stake. With a 2.64% stake in AKYA, the Polar Capital Funds Plc – Biotech is the largest stakeholder. A total of 1,000,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.53% of AKYA stock, is the second-largest Mutual Fund holder. It holds 577,915 shares valued at 7.95 million. iShares Russell 2000 ETF holds 0.86% of the stake in AKYA, owning 326,233 shares worth 4.49 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AKYA since 7 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AKYA analysts setting a high price target of $25.00 and a low target of $16.00, the average target price over the next 12 months is $19.29. Based on these targets, AKYA could surge 96.54% to reach the target high and rise by 25.79% to reach the target low. Reaching the average price target will result in a growth of 51.65% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AKYA will report FY 2022 earnings on 03/13/2023. Analysts have provided yearly estimates in a range of -$1.68 being high and -$1.85 being low. For AKYA, this leads to a yearly average estimate of -$1.81. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Akoya Biosciences Inc. surprised analysts by -$0.03 when it reported -$0.47 EPS against a consensus estimate of -$0.44. The surprise factor in the prior quarter was -$0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.30 and the low estimate is -$0.48. The average estimate for the next quarter is thus -$0.43.

Summary of Insider Activity:

Insiders traded AKYA stock several times over the past three months with 1 Buys and 4 Sells. In these transactions, 5,000 shares were bought while 37,296 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 222,607 while 67,296 shares were sold.

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