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

Pyxis Oncology (NASDAQ:PYXS)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a note issued to investors on Friday,Benzinga reports. They presently have a $8.00 price target on the stock, down from their previous price target of $10.00. Royal Bank of Canada’s target price would indicate a potential upside of 373.37% from the company’s current price.

A number of other research firms also recently commented on PYXS. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Pyxis Oncology in a research note on Thursday, November 21st. Stephens assumed 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 lowered shares of Pyxis Oncology from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.43.

Pyxis Oncology Price Performance

Shares of NASDAQ:PYXS opened at $1.69 on Friday. The stock has a market cap of $100.50 million, a price-to-earnings ratio of -1.64 and a beta of 1.00. Pyxis Oncology has a 12 month low of $1.49 and a 12 month high of $6.85. The stock’s 50 day moving average price is $2.93 and its 200 day moving average price is $3.29.

Insider Activity at Pyxis Oncology

In other news, CFO Pamela Ann Connealy purchased 88,850 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average price of $1.96 per share, for a total transaction of $174,146.00. Following the completion of the acquisition, the chief financial officer now directly owns 1,199,143 shares of the company’s stock, valued at $2,350,320.28. The trade was a 8.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pyxis Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYXS. Jacobs Levy Equity Management Inc. acquired a new position in shares of Pyxis Oncology in the 3rd quarter valued at about $1,405,000. Bank of New York Mellon Corp grew its position in Pyxis Oncology by 92.2% during the second quarter. Bank of New York Mellon Corp now owns 311,630 shares of the company’s stock valued at $1,031,000 after purchasing an additional 149,522 shares in the last quarter. abrdn plc increased its stake in Pyxis Oncology by 28.9% in the 3rd quarter. abrdn plc now owns 913,045 shares of the company’s stock valued at $3,351,000 after buying an additional 204,742 shares during the period. Millennium Management LLC lifted its position in Pyxis Oncology by 125.3% in the 2nd quarter. Millennium Management LLC now owns 1,336,908 shares of the company’s stock worth $4,425,000 after buying an additional 743,499 shares in the last quarter. Finally, Blue Owl Capital Holdings LP acquired a new stake in shares of Pyxis Oncology during the 2nd quarter valued at $3,462,000. 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.