Simply Wall St Mon, January 19, 2026 at 4:08 AM GMT+8 3 min read

In this article: AKTS

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Aktis Oncology (AKTS) has just come through a busy debut, with a US$317.7 million IPO, a fresh spot in the NASDAQ Composite Index, and sizeable insider and institutional buying drawing investor attention.

See our latest analysis for Aktis Oncology.

Since listing, Aktis Oncology’s 7 day share price return of an 11.83% decline and year to date share price return of an 11.83% decline suggest early momentum has cooled, even as the IPO, index inclusion, shelf registration and sizeable insider and institutional buying keep attention on how the valuation lines up with its clinical plans.

If Aktis’s recent debut has you looking beyond a single stock, this is a good moment to broaden your watchlist with healthcare stocks that are also trying to reshape cancer treatment.

So with Aktis Oncology now trading around US$19.75 after its US$18 IPO, heavy insider buying, and a sharp 11.83% pullback, is the recent weakness a genuine opening or are markets already pricing in the clinical ambition ahead?

Aktis Oncology currently shows a P/B ratio of 7.8x on negative equity, which sits well away from both the US biotechs average of 2.6x and the peer average of 4x.

P/B compares a company’s market value to its net assets, so it is often used for asset light or early stage biotechs where earnings are not yet available. When equity is negative, as it is for Aktis, the ratio itself becomes harder to interpret and can reflect accumulated losses and funding structure rather than a clean signal about underlying asset value.

Even with that caveat, the comparison stands out, as Aktis’s P/B is materially higher than both its broader industry and its closer peer group. This suggests the market is placing a relatively rich value on its current balance sheet position. With no fair ratio available to indicate a level the market could move towards, investors are left weighing how much of that gap they are comfortable with given the company’s clinical stage and unprofitable status.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price to Book of 7.8x (ABOUT RIGHT)

However, you also have to weigh clinical and execution risk around Aktis’s pipeline, as well as its current losses of US$60.649 million on revenue of just US$5.56 million.

Find out about the key risks to this Aktis Oncology narrative.

If your view on Aktis differs, or you would rather rely on your own research, you can piece together a full storyline in just a few minutes with Do it your way.

A great starting point for your Aktis Oncology research is our analysis highlighting 1 key reward and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include AKTS.

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