Royal Bank of Canada Reaffirms Outperform Rating for Pyxis Oncology (NASDAQ:PYXS)

Pyxis Oncology (NASDAQ:PYXS)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $8.00 target price on the stock, down from their prior target price of $10.00. Royal Bank of Canada’s price target would indicate a potential upside of 373.37% from the stock’s previous close.

Several other research firms have also weighed in on PYXS. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Pyxis Oncology in a report on Thursday, November 21st. Stephens started coverage on shares of Pyxis Oncology in a research report on Friday, November 8th. They issued an “overweight” rating and a $13.00 price target on the stock. Finally, William Blair downgraded shares of Pyxis Oncology from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pyxis Oncology has an average rating of “Moderate Buy” and a consensus target price of $9.43.

Pyxis Oncology Price Performance

NASDAQ PYXS opened at $1.69 on Friday. Pyxis Oncology has a fifty-two week low of $1.49 and a fifty-two week high of $6.85. The stock’s 50-day moving average is $2.93 and its two-hundred day moving average is $3.29. The firm has a market cap of $100.50 million, a P/E ratio of -1.64 and a beta of 1.00.

Insider Activity

In related news, CFO Pamela Ann Connealy acquired 88,850 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were bought at an average price of $1.96 per share, for a total transaction of $174,146.00. Following the acquisition, the chief financial officer now owns 1,199,143 shares in the company, valued at $2,350,320.28. This trade represents a 8.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pyxis Oncology

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in Pyxis Oncology by 125.3% during the second quarter. Millennium Management LLC now owns 1,336,908 shares of the company’s stock valued at $4,425,000 after acquiring an additional 743,499 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pyxis Oncology by 5.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,084,727 shares of the company’s stock worth $3,982,000 after purchasing an additional 57,016 shares in the last quarter. Blue Owl Capital Holdings LP bought a new stake in shares of Pyxis Oncology during the second quarter valued at approximately $3,462,000. State Street Corp raised its stake in shares of Pyxis Oncology by 28.0% in the third quarter. State Street Corp now owns 951,251 shares of the company’s stock valued at $3,491,000 after purchasing an additional 208,344 shares in the last quarter. Finally, abrdn plc lifted its position in Pyxis Oncology by 28.9% in the third quarter. abrdn plc now owns 913,045 shares of the company’s stock worth $3,351,000 after purchasing an additional 204,742 shares during the period. 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.