Pyxis Oncology (NASDAQ:PYXS) Upgraded to Strong-Buy at Zacks Research

Key Points

• Pyxis Oncology (NASDAQ:PYXS) has been upgraded to a "strong-buy" rating by Zacks Research, indicating growing confidence in the stock.
• The company reported a quarterly earnings per share (EPS) of ($0.30), surpassing the consensus estimate of ($0.36) and generating $2.82 million in revenue.
• Despite the upgrade, there is mixed sentiment from analysts, with ratings ranging from "sell" to "buy," reflecting uncertainty in the stock's performance.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research firms also recently commented on PYXS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pyxis Oncology in a report on Wednesday, October 8th. 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. Guggenheim initiated coverage on Pyxis Oncology in a research note on Wednesday, September 3rd. They set a "buy" rating and a $5.00 price target for the company. Finally, Wall Street Zen downgraded Pyxis Oncology from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.75.

Pyxis Oncology Price Performance

Shares of NASDAQ:PYXS opened at $3.23 on Monday. Pyxis Oncology has a 1-year low of $0.83 and a 1-year high of $5.39. The business has a fifty day moving average price of $1.87 and a 200-day moving average price of $1.39. The company has a market capitalization of $200.32 million, a PE ratio of -2.02 and a beta of 1.33.

Pyxis Oncology (NASDAQ:PYXS - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The business had revenue of $2.82 million during the quarter. On average, sell-side analysts anticipate that Pyxis Oncology will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pyxis Oncology

Hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC lifted its stake in shares of Pyxis Oncology by 76.1% during the 2nd 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. Jane Street Group LLC acquired a new position in Pyxis Oncology during the 2nd quarter valued at about $370,000. Velan Capital Investment Management LP acquired a new position in shares of Pyxis Oncology in the second quarter valued at about $44,000. Qube Research & Technologies Ltd increased its holdings in shares of Pyxis Oncology by 128.4% in the second quarter. Qube Research & Technologies Ltd now owns 103,063 shares of the company's stock valued at $113,000 after purchasing an additional 57,935 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Pyxis Oncology during the second quarter worth about $163,000. 39.09% of the stock is currently owned by hedge funds and other institutional investors.

Pyxis Oncology Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.