Aktis Oncology (NASDAQ:AKTS) Shares Down 7.3% – Time to Sell?

by · The Cerbat Gem

Aktis Oncology (NASDAQ:AKTS – Get Free Report)’s stock price fell 7.3% during mid-day trading on Tuesday . The company traded as low as $25.13 and last traded at $25.07. 196,168 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 332,923 shares. The stock had previously closed at $27.05.

Analysts Set New Price Targets

Several brokerages recently weighed in on AKTS. Weiss Ratings raised Aktis Oncology from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. Oppenheimer started coverage on shares of Aktis Oncology in a research report on Wednesday. They set an “outperform” rating and a $40.00 price objective for the company. BMO Capital Markets started coverage on shares of Aktis Oncology in a research note on Tuesday, August 18th. They issued an “outperform” rating and a $37.00 target price for the company. HC Wainwright boosted their price target on shares of Aktis Oncology from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen cut 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 issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.62.

Check Out Our Latest Report on AKTS

Aktis Oncology Trading Down 0.5%

The stock’s 50 day moving average price is $25.29 and its two-hundred day moving average price is $21.98. The firm has a market capitalization of $1.29 billion and a price-to-earnings ratio of -29.28.

Aktis Oncology (NASDAQ:AKTS – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The technology company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The company had revenue of $3.38 million for the quarter, compared to analysts’ expectations of $2.70 million. On average, sell-side analysts forecast that Aktis Oncology will post -1.8 earnings per share for the current fiscal year.

Insider Activity at Aktis Oncology

In related news, Director Ken Herrmann sold 4,856 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $24.56, for a total value of $119,263.36. Following the sale, the director owned 3,506 shares in the company, valued at $86,107.36. This represents a 58.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aktis Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Aktis Oncology by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock worth $73,431,000 after buying an additional 166,231 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Aktis Oncology during the 2nd quarter valued at about $9,347,000. Jupiter Topco LLC acquired a new position in Aktis Oncology during the second quarter worth about $42,359,000. Wellington Management Group LLP purchased a new stake in shares of Aktis Oncology in the second quarter valued at about $63,372,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Aktis Oncology in the second quarter valued at approximately $1,406,000. 28.84% of the stock is owned by institutional investors and hedge funds.

Aktis Oncology Company Profile

(Get Free Report)

Aktis Oncology (NASDAQ: AKTS) is a biotechnology company focused on the discovery and development of new therapies for cancer. The firm concentrates on advancing oncology candidates through research and development with the goal of addressing unmet medical needs in oncology. Its work emphasizes targeted and precision approaches intended to improve the safety and efficacy profiles of cancer treatments.

The company’s activities include laboratory research, preclinical studies and clinical development as it advances its pipeline programs toward regulatory milestones.

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