Readystate Asset Management LP Purchases Shares of 30,000 Aktis Oncology $AKTS

Readystate Asset Management LP acquired a new stake in Aktis Oncology (NASDAQ:AKTS) during the 2nd quarter, Holdings Channel reports. The firm acquired 30,000 shares of the technology company’s stock, valued at approximately $967,000.

A number of other hedge funds have also recently made changes to their positions in AKTS. Wellington Management Group LLP bought a new stake in Aktis Oncology during the 2nd quarter valued at approximately $63,372,000. Jupiter Topco LLC bought a new position in Aktis Oncology in the 2nd quarter worth approximately $42,359,000. Alyeska Investment Group L.P. purchased a new stake in Aktis Oncology during the 2nd quarter valued at approximately $9,347,000. BlackRock Inc. grew its holdings in Aktis Oncology by 7.9% during the 2nd quarter. BlackRock Inc. now owns 2,278,358 shares of the technology company’s stock valued at $73,431,000 after buying an additional 166,231 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in shares of Aktis Oncology during the second quarter valued at approximately $1,406,000. Institutional investors own 28.84% of the company’s stock.

Aktis Oncology Stock Performance

NASDAQ AKTS opened at $27.05 on Tuesday. The stock has a 50 day moving average price of $25.58 and a 200-day moving average price of $21.89. Aktis Oncology has a one year low of $14.72 and a one year high of $34.19. The company has a market capitalization of $1.45 billion and a P/E ratio of -32.99.

Aktis Oncology (NASDAQ:AKTS) last announced 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 company had revenue of $3.38 million for the quarter, compared to the consensus estimate of $2.70 million. As a group, equities analysts predict that Aktis Oncology will post -1.8 EPS for the current fiscal year.

Insider Activity at Aktis Oncology

In other news, Director Ken Herrmann sold 4,856 shares of the business’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 sale, the director directly owned 3,506 shares in the company, valued at $86,107.36. The trade was a 58.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AKTS shares. Raymond James Financial initiated coverage on shares of Aktis Oncology in a research report on Monday, June 15th. They set a “strong-buy” rating and a $40.00 target price for the company. Wall Street Zen cut shares of Aktis Oncology from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of Aktis Oncology from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 23rd. HC Wainwright raised their price objective on Aktis Oncology from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Aktis Oncology from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.