Pyxis Oncology (NASDAQ:PYXS) Stock Rating Upgraded by Zacks Research

Key Points

• Pyxis Oncology has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, reflecting a shift in investor sentiment.
• HC Wainwright maintained a "buy" rating for the stock and set a target price of $5.00, while the average consensus price target is $8.67.
• The company's recent earnings report showed a quarterly loss of ($0.30) per share, which exceeded analysts' expectations of (0.36).

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, August 18th,Zacks.com reports.

Separately, HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of Pyxis Oncology in a research note on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Pyxis Oncology presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.67.

Pyxis Oncology Stock Up 2.2%

PYXS traded up $0.03 during trading on Monday, reaching $1.37. The company had a trading volume of 360,567 shares, compared to its average volume of 551,838. The stock has a market cap of $84.97 million, a P/E ratio of -0.86 and a beta of 1.13. Pyxis Oncology has a 52 week low of $0.8332 and a 52 week high of $5.3899. The business has a 50 day simple moving average of $1.16 and a 200-day simple moving average of $1.15.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06. The firm had revenue of $2.82 million for the quarter. As a group, equities research analysts expect that Pyxis Oncology will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Pyxis Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in shares of Pyxis Oncology by 53.8% during the fourth quarter. Millennium Management LLC now owns 2,980,906 shares of the company's stock worth $4,650,000 after acquiring an additional 1,043,228 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Pyxis Oncology by 57.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 601,940 shares of the company's stock worth $939,000 after acquiring an additional 219,100 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of Pyxis Oncology by 32.5% during the first quarter. 683 Capital Management LLC now owns 550,000 shares of the company's stock worth $539,000 after acquiring an additional 135,000 shares during the last quarter. Pier 88 Investment Partners LLC grew its stake in shares of Pyxis Oncology by 296.6% during the first quarter. Pier 88 Investment Partners LLC now owns 390,960 shares of the company's stock worth $383,000 after acquiring an additional 292,370 shares during the last quarter. Finally, Ridgeback Capital Investments L.P. purchased a new stake in shares of Pyxis Oncology during the fourth quarter worth about $560,000. Hedge funds and other institutional investors 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.