Pyxis Oncology (NASDAQ:PYXS) Shares Down 4.7% – Here’s What Happened

Pyxis Oncology, Inc. (NASDAQ:PYXS)’s stock price dropped 4.7% on Monday . The company traded as low as $1.21 and last traded at $1.22. Approximately 720,268 shares were traded during trading, an increase of 19% from the average daily volume of 606,162 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. William Blair downgraded shares of Pyxis Oncology from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 21st. Royal Bank of Canada restated an “outperform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Pyxis Oncology in a report on Friday, December 20th. Stephens started coverage on shares of Pyxis Oncology in a research report on Friday, November 8th. They set an “overweight” rating and a $13.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective (down from $7.00) on shares of Pyxis Oncology in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.20.

Pyxis Oncology Stock Down 4.7 %

The firm has a market capitalization of $72.55 million, a P/E ratio of -1.18 and a beta of 1.06. The company’s 50 day moving average is $1.51 and its 200-day moving average is $2.67.

Hedge Funds Weigh In On Pyxis Oncology

Several institutional investors have recently made changes to their positions in PYXS. SG Americas Securities LLC bought a new stake in Pyxis Oncology in the 3rd quarter valued at about $58,000. abrdn plc grew its stake in Pyxis Oncology by 28.9% in the third quarter. abrdn plc now owns 913,045 shares of the company’s stock valued at $3,351,000 after acquiring an additional 204,742 shares during the period. Pier 88 Investment Partners LLC increased its holdings in shares of Pyxis Oncology by 7.0% during the third quarter. Pier 88 Investment Partners LLC now owns 121,610 shares of the company’s stock valued at $446,000 after acquiring an additional 7,910 shares in the last quarter. Schulhoff & Co. Inc. increased its holdings in shares of Pyxis Oncology by 190.5% during the third quarter. Schulhoff & Co. Inc. now owns 122,000 shares of the company’s stock valued at $448,000 after acquiring an additional 80,000 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Pyxis Oncology during the third quarter worth approximately $294,000. Institutional investors and hedge funds own 39.09% of the company’s stock.

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.