Aktis Oncology (NASDAQ:AKTS) Shares Down 8.6% – Here’s What Happened

Shares of Aktis Oncology (NASDAQ:AKTSGet Free Report) fell 8.6% on Wednesday . The stock traded as low as $20.14 and last traded at $20.2150. 371,316 shares traded hands during trading, an increase of 5% from the average daily volume of 353,180 shares. The stock had previously closed at $22.11.

Analysts Set New Price Targets

Several brokerages have issued reports on AKTS. Wall Street Zen downgraded Aktis Oncology from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. JPMorgan Chase & Co. increased their target price on Aktis Oncology from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Aktis Oncology in a report on Friday. Wedbush assumed coverage on shares of Aktis Oncology in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Raymond James Financial began coverage on shares of Aktis Oncology in a report on Monday, June 15th. They issued a “strong-buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.62.

Read Our Latest Stock Report on AKTS

Aktis Oncology Price Performance

The stock’s 50-day moving average price is $24.30 and its 200 day moving average price is $22.15. The firm has a market cap of $1.06 billion and a P/E ratio of -24.37.

Aktis Oncology (NASDAQ:AKTSGet 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 for the quarter, compared to analyst estimates of $2.70 million. As a group, analysts forecast that Aktis Oncology will post -1.82 EPS for the current fiscal year.

Insider Transactions at Aktis Oncology

In related 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Aktis Oncology

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new stake in Aktis Oncology in the 2nd quarter worth about $32,000. AXQ Capital LP bought a new stake in shares of Aktis Oncology in the second quarter valued at approximately $226,000. Susquehanna International Group LLP acquired a new position in Aktis Oncology in the 2nd quarter valued at $278,000. Deutsche Bank AG grew its holdings in shares of Aktis Oncology by 49.3% during the 2nd quarter. Deutsche Bank AG now owns 21,022 shares of the technology company’s stock worth $678,000 after purchasing an additional 6,942 shares in the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of Aktis Oncology in the second quarter worth $967,000. Institutional investors and hedge funds own 28.84% of the company’s stock.

Aktis Oncology Company Profile

(Get Free Report)

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.

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