Pyxis Oncology (NASDAQ:PYXS) Stock Gets Price Target Cut from Wedbush

Key Points

• Wedbush cut its Pyxis Oncology price target to $7 from $8 but maintained an “outperform” rating; the new target implies 320.42% upside from the reported share price.
• Analyst opinion is generally positive: seven analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $8.43.
• Pyxis shares traded at $1.67 on Friday. The company reported a quarterly loss of $0.24 per share, narrower than analysts’ expected loss of $0.27.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) had its target price dropped by stock analysts at Wedbush from $8.00 to $7.00 in a research report issued on Friday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's price target would suggest a potential upside of 320.42% from the company's current price.

Several other analysts have also recently issued reports on the stock. Stifel Nicolaus set a $5.00 target price on shares of Pyxis Oncology in a research report on Thursday. Wells Fargo & Company lifted their price target on Pyxis Oncology from $12.00 to $19.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 9th. Weiss Ratings reissued a "sell (e+)" rating on shares of Pyxis Oncology in a research note on Friday, September 25th. Finally, HC Wainwright boosted their price objective on Pyxis Oncology from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.43.

Pyxis Oncology Price Performance

Shares of NASDAQ PYXS traded up $0.06 during midday trading on Friday, reaching $1.67. 202,975 shares of the stock traded hands, compared to its average volume of 904,196. The company's 50 day moving average is $2.54 and its 200 day moving average is $2.16. Pyxis Oncology has a one year low of $1.03 and a one year high of $5.55. The stock has a market capitalization of $138.87 million, a PE ratio of -1.18 and a beta of 1.41.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. As a group, equities analysts forecast that Pyxis Oncology will post -1.21 EPS for the current year.

Institutional Investors Weigh In On Pyxis Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake in shares of Pyxis Oncology by 14.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 48,750 shares of the company's stock worth $114,000 after purchasing an additional 6,295 shares during the period. T3 Companies LLC purchased a new stake in Pyxis Oncology in the 3rd quarter worth about $61,000. Finally, Renaissance Technologies LLC lifted its stake in Pyxis Oncology by 22.0% in the first quarter. Renaissance Technologies LLC now owns 888,680 shares of the company's stock worth $1,297,000 after purchasing an additional 160,300 shares during the last quarter. Hedge funds and other institutional investors own 39.07% of the company's stock.

About Pyxis Oncology

Pyxis Oncology, Inc is a clinical-stage biotechnology company focused on developing antibody-based therapies for the treatment of cancer. The company aims to address limitations of existing cancer treatments by designing therapeutics intended to selectively target tumors and activate the immune system while minimizing effects on healthy tissue.

Pyxis Oncology's pipeline includes antibody-drug conjugates and immunotherapies designed to act on targets in the tumor microenvironment. Its lead programs have included PYX-201, an antibody-drug conjugate intended to deliver a cytotoxic payload to tumors expressing the fibronectin extra domain-B target, and other investigational antibody-based programs directed at immune-suppressive pathways.

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