Aktis Oncology (NASDAQ:AKTS) Stock Falls 8.3% – Here’s Why

by · The Markets Daily

Aktis Oncology (NASDAQ:AKTS – Get Free Report) was down 8.3% during trading on Monday. The company traded as low as $14.89 and last traded at $14.6060. Approximately 57,666 shares were traded during trading, a decline of 84% from the average daily volume of 349,898 shares. The stock had previously closed at $15.93.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Aktis Oncology in a research note on Friday, October 2nd. JPMorgan Chase & Co. increased their price target on Aktis Oncology from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings lowered shares of Aktis Oncology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, October 2nd. Oppenheimer began coverage on shares of Aktis Oncology in a research note on Wednesday, September 9th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Aktis Oncology from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.62.

Read Our Latest Research Report on Aktis Oncology

Aktis Oncology Stock Performance

The firm’s 50-day simple moving average is $20.57 and its 200-day simple moving average is $21.03. The company has a market capitalization of $770.88 million and a price-to-earnings ratio of -17.52.

Aktis Oncology (NASDAQ:AKTS – Get Free Report) last released its earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $3.38 million during the quarter, compared to analyst estimates of $2.70 million. Equities research analysts forecast that Aktis Oncology will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new position in shares of Aktis Oncology during the 2nd quarter worth about $63,372,000. Jupiter Topco LLC bought a new position in Aktis Oncology during the second quarter worth about $42,359,000. Alyeska Investment Group L.P. acquired a new stake in Aktis Oncology during the second quarter valued at approximately $9,347,000. BlackRock Inc. boosted its holdings in Aktis Oncology by 7.9% during the second quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock valued at $73,431,000 after purchasing an additional 166,231 shares in the last quarter. Finally, Mirador Capital Partners LP grew its stake in shares of Aktis Oncology by 232.9% in the 3rd quarter. Mirador Capital Partners LP now owns 133,558 shares of the technology company’s stock valued at $2,600,000 after purchasing an additional 93,434 shares during the period. 28.84% of the stock is currently owned by institutional investors and hedge funds.

Aktis Oncology Company Profile

(Get Free Report)

Aktis Oncology, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for the treatment of cancer. The company’s research is directed primarily toward therapies for solid tumors, an area where it seeks to improve the ability of the immune system to recognize and eliminate cancer cells.

Aktis Oncology is developing a pipeline of targeted oncology candidates based on proprietary immune-cell engagement technologies. These therapies are intended to direct immune cells toward tumor-associated targets and potentially address cancers that are difficult to treat with existing immunotherapies.

The company’s programs remain in development, and publicly available information about its commercial products, geographic operations, and leadership is limited.

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