Aktis Oncology (NASDAQ:AKTS) Stock Falls 8.6% – What’s Next?

Aktis Oncology (NASDAQ:AKTS)’s stock price was down 8.6% on Wednesday. The stock traded as low as $20.14 and last traded at $20.2150. 371,316 shares changed hands during trading, an increase of 5% from the average daily volume of 353,180 shares. The stock had previously closed at $22.11.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer initiated coverage on Aktis Oncology in a research report on Wednesday, September 9th. They issued an “outperform” rating and a $40.00 price objective for the company. Raymond James Financial began coverage on shares of Aktis Oncology in a research note on Monday, June 15th. They issued a “strong-buy” rating and a $40.00 price target on the stock. HC Wainwright upped their price target on shares of Aktis Oncology from $33.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Wedbush assumed coverage on shares of Aktis Oncology in a report on Wednesday, August 19th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Aktis Oncology in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.62.

Aktis Oncology Price Performance

The firm has a market cap of $1.03 billion and a price-to-earnings ratio of -23.46. The business has a 50-day moving average of $24.07 and a 200-day moving average of $22.15.

Aktis Oncology (NASDAQ:AKTS) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $2.70 million. As a group, equities analysts anticipate that Aktis Oncology will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at Aktis Oncology

In related news, Director Ken Herrmann sold 4,856 shares of the business’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $24.56, for a total transaction of $119,263.36. Following the transaction, the director directly owned 3,506 shares in the company, valued at approximately $86,107.36. The trade was a 58.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new position in shares of Aktis Oncology in the second quarter valued at approximately $32,000. The Manufacturers Life Insurance Company lifted its holdings in Aktis Oncology by 2.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,044 shares of the technology company’s stock worth $1,548,000 after purchasing an additional 1,051 shares during the last quarter. Bank of America Corp DE boosted its stake in Aktis Oncology by 4.2% in the 2nd quarter. Bank of America Corp DE now owns 72,835 shares of the technology company’s stock valued at $2,347,000 after purchasing an additional 2,909 shares during the period. Bank of New York Mellon Corp grew its holdings in Aktis Oncology by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,250 shares of the technology company’s stock valued at $1,587,000 after buying an additional 6,349 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Aktis Oncology by 49.3% in the 2nd quarter. Deutsche Bank AG now owns 21,022 shares of the technology company’s stock valued at $678,000 after buying an additional 6,942 shares in the last quarter. Institutional investors own 28.84% of the company’s stock.

Aktis Oncology Company Profile

Aktis Oncology, Inc is a clinical-stage biotechnology company focused on developing precision cancer treatments. The company’s research is centered on targeted alpha therapies, which are designed to deliver highly potent radiation directly to cancer cells while limiting exposure to surrounding healthy tissue.

Aktis Oncology is developing a pipeline of investigational therapies for solid tumors and other cancers. Its programs are intended to use tumor-targeting molecules to selectively transport radioactive payloads to cancer cells, with the goal of improving treatment effectiveness and addressing cancers that may be difficult to treat with conventional approaches.

The company’s product candidates remain in development and are subject to clinical, regulatory and commercial risks.