Aktis Oncology (NASDAQ:AKTS) Trading Down 7.3% – Should You Sell?

Aktis Oncology (NASDAQ:AKTS) shares were down 7.3% on Tuesday . The company traded as low as $25.13 and last traded at $25.07. 196,168 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 332,923 shares. The stock had previously closed at $27.05.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Aktis Oncology in a report on Tuesday, August 18th. They set an “outperform” rating and a $37.00 target price for the company. Wedbush started coverage on Aktis Oncology in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $35.00 price target on the stock. Raymond James Financial assumed coverage on Aktis Oncology in a research report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Aktis Oncology from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, HC Wainwright increased their target price on Aktis Oncology from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Aktis Oncology Trading Down 8.0%

The firm has a market capitalization of $1.34 billion and a PE ratio of -30.33. The firm has a 50 day simple moving average of $25.58 and a 200 day simple moving average of $21.89.

Aktis Oncology (NASDAQ:AKTS) last posted its quarterly earnings results on Thursday, August 13th. The technology company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The firm had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $2.70 million. Research analysts forecast that Aktis Oncology will post -1.8 earnings per share for the current year.

Insiders Place Their Bets

In other Aktis Oncology news, Director Ken Herrmann sold 4,856 shares of the company’s stock in a transaction dated 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 owned 3,506 shares in the company, valued at approximately $86,107.36. This represents a 58.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position 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 during the period. Wellington Management Group LLP purchased a new stake in Aktis Oncology in the second quarter worth approximately $63,372,000. Jupiter Topco LLC bought a new stake in Aktis Oncology in the 2nd quarter worth approximately $42,359,000. Alyeska Investment Group L.P. bought a new stake in Aktis Oncology in the 2nd quarter worth approximately $9,347,000. Finally, Bank of America Corp DE raised its stake in Aktis Oncology by 4.2% during 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 buying an additional 2,909 shares during the last quarter. 28.84% of the stock is owned by hedge funds and other institutional investors.

Aktis Oncology Company Profile

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.