Akoya Biosciences, Inc. (NASDAQ:AKYA) President and CEO Brian McKelligon has sold 7,500 shares of the company's common stock, according to a recent SEC filing. The transaction, which took place on March 20, 2024, was executed at a weighted average price of approximately $4.97, ranging from $4.855 to $5.08 per share. The total value of the shares sold by McKelligon amounts to over $37,242.
In addition to the sale, McKelligon also acquired 7,500 shares of Akoya Biosciences' common stock on the same day through the exercise of options at a price of $0.303 per share, amounting to a total of $2,272. This transaction was part of an employee stock option plan, with the options exercisable as part of a schedule that began in July 2018 and is contingent upon his continuous employment with the company.
Following these transactions, McKelligon's direct ownership in the company stands at 231,868 shares of common stock. The sales reported were made in accordance with a Rule 10b5-1 trading plan, which was adopted by McKelligon on August 16, 2023.
Investors and followers of Akoya Biosciences, a company specializing in laboratory analytical instruments, often keep a close eye on insider transactions as they can provide valuable insights into the company's health and executive confidence. Akoya Biosciences has not made any official statement regarding these transactions at the time of this report.
InvestingPro Insights
Akoya Biosciences (NASDAQ:AKYA) has been navigating through a challenging financial landscape, as reflected in some of its recent metrics and analyst insights. According to InvestingPro data, Akoya's market capitalization stands at $235.38 million, and the company has experienced revenue growth over the last twelve months as of Q4 2023, with a 29.09% increase. However, this growth is juxtaposed against a negative operating income margin of -57.98% for the same period, highlighting the struggles in turning revenue into profit.
Two InvestingPro Tips that shed light on the company's current situation include analysts revising their earnings estimates downwards for the upcoming period and the fact that Akoya is not expected to be profitable this year. These insights may be particularly relevant to investors in light of the recent insider transactions by Akoya's CEO, Brian McKelligon.
Furthermore, Akoya's stock price has shown significant volatility, which is an important consideration for investors. The price has fluctuated with a -37.07% return over the past year, although it has seen a 1.42% return over the last three months as of the date provided. The company's P/E ratio stands at -3.38, underscoring the challenges it faces in achieving profitability.
For a more comprehensive analysis, investors can explore additional InvestingPro Tips for Akoya Biosciences. There are currently 8 more tips available, which can provide deeper insights into the company's financial health and market performance. To access these tips and more detailed metrics, visit InvestingPro and use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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