Pyxis Oncology (NASDAQ:PYXS) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Pyxis Oncology reported an earnings per share (EPS) of ($0.30), exceeding expectations by $0.06, while generating $2.82 million in revenue for the quarter.
• The company's stock increased by 8.8% following the earnings announcement, reaching a price of $1.23.
• HC Wainwright maintained a "buy" rating on Pyxis Oncology with a target price set at $5.00, indicating positive growth expectations.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) released its quarterly earnings results on Thursday, August 14th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.36) by $0.06, Zacks reports. The business had revenue of $2.82 million for the quarter.

Pyxis Oncology Stock Up 13.8%

Pyxis Oncology stock traded up $0.16 during midday trading on Thursday, reaching $1.32. The company's stock had a trading volume of 2,098,921 shares, compared to its average volume of 402,173. The business has a 50-day simple moving average of $1.16 and a 200-day simple moving average of $1.15. Pyxis Oncology has a fifty-two week low of $0.8332 and a fifty-two week high of $5.3899.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PYXS shares. Zacks Research upgraded Pyxis Oncology from a "strong sell" rating to a "hold" rating in a report on Monday. HC Wainwright restated a "buy" rating and set a $5.00 target price on shares of Pyxis Oncology in a report on Tuesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $8.67.

Institutional Investors Weigh In On Pyxis Oncology

Several hedge funds and other institutional investors have recently made changes to their positions in PYXS. Jane Street Group LLC purchased a new stake in Pyxis Oncology during the second quarter worth approximately $370,000. Marshall Wace LLP purchased a new stake in Pyxis Oncology during the second quarter worth approximately $163,000. Bridgeway Capital Management LLC lifted its stake in Pyxis Oncology by 76.1% during the second quarter. Bridgeway Capital Management LLC now owns 142,295 shares of the company's stock worth $157,000 after purchasing an additional 61,500 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Pyxis Oncology by 128.4% during the second quarter. Qube Research & Technologies Ltd now owns 103,063 shares of the company's stock worth $113,000 after purchasing an additional 57,935 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Pyxis Oncology during the first quarter worth approximately $81,000. Institutional investors and hedge funds own 39.09% of the company's stock.

About Pyxis Oncology

Pyxis Oncology, Inc, a clinical stage company, engages in the development of therapeutics to treat cancers. Its lead antibody-drug conjugates (ADC) product candidate is PYX-201, an investigational novel ADC consisting of human immunoglobulin G1 (IgG1), which is in Phase 1 clinical trial to treat patients with relapsed or refractory solid tumors; and lead immuno-oncology (IO) product candidate is PYX-106, an investigational fully human IgG1 Siglec-15-targeting antibody that is in Phase 1 clinical trial to treat patients with advanced solid tumors.