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

Royal Bank of Canada restated their outperform rating on shares of Pyxis Oncology (NASDAQ:PYXS) in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has a $8.00 price target on the stock, down from their previous price target of $10.00.

Several other brokerages have also recently issued reports on PYXS. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Pyxis Oncology in a report on Thursday, November 21st. Stephens assumed coverage on Pyxis Oncology in a research note on Friday, November 8th. They issued an “overweight” rating and a $13.00 target price for the company. Finally, William Blair downgraded Pyxis Oncology from an “outperform” rating to a “market perform” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.43.

Pyxis Oncology Stock Performance

Shares of PYXS opened at $1.69 on Friday. The firm has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $3.29. Pyxis Oncology has a fifty-two week low of $1.49 and a fifty-two week high of $6.85. The company has a market capitalization of $100.50 million, a price-to-earnings ratio of -1.64 and a beta of 1.00.

Insiders Place Their Bets

In other news, CFO Pamela Ann Connealy purchased 88,850 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was acquired at an average price of $1.96 per share, with a total value of $174,146.00. Following the purchase, the chief financial officer now owns 1,199,143 shares in the company, valued at $2,350,320.28. This represents a 8.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.80% of the company’s stock.

Institutional Trading of Pyxis Oncology

Large investors have recently modified their holdings of the company. Blue Owl Capital Holdings LP acquired a new position in shares of Pyxis Oncology during the second quarter valued at about $3,462,000. Millennium Management LLC lifted its holdings in Pyxis Oncology by 125.3% during 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. Jacobs Levy Equity Management Inc. acquired a new stake in Pyxis Oncology in the third quarter worth about $1,405,000. State Street Corp raised its stake in shares of Pyxis Oncology by 28.0% during the third quarter. State Street Corp now owns 951,251 shares of the company’s stock worth $3,491,000 after buying an additional 208,344 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of 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 purchasing an additional 204,742 shares during the period. 39.09% of the stock is owned by 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.