Wedbush Issues Pessimistic Forecast for Pyxis Oncology (NASDAQ:PYXS) Stock Price

Pyxis Oncology (NASDAQ:PYXS) had its target price lowered by investment analysts at Wedbush from $8.00 to $7.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush‘s price objective would indicate a potential upside of 320.42% from the company’s previous close.

Several other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Pyxis Oncology in a research note on Friday, September 25th. Stifel Nicolaus set a $5.00 price objective on shares of Pyxis Oncology in a research report on Thursday. HC Wainwright upped their target price on shares of Pyxis Oncology from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, September 10th. Finally, Wells Fargo & Company raised their target price on shares of Pyxis Oncology from $12.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 9th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.43.

Pyxis Oncology Stock Performance

Pyxis Oncology stock traded up $0.06 during mid-day trading on Friday, hitting $1.67. The company’s stock had a trading volume of 202,975 shares, compared to its average volume of 904,196. The company has a 50 day moving average of $2.54 and a 200-day moving average of $2.16. Pyxis Oncology has a one year low of $1.03 and a one year high of $5.55. The stock has a market cap of $138.87 million, a PE ratio of -1.18 and a beta of 1.41.

Pyxis Oncology (NASDAQ:PYXS) last released its earnings results on Thursday, November 5th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. On average, equities research analysts forecast that Pyxis Oncology will post -1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Pyxis Oncology

Several institutional investors have recently made changes to their positions in PYXS. Commonwealth Equity Services LLC increased its stake in shares of Pyxis Oncology by 14.8% during the third quarter. Commonwealth Equity Services LLC now owns 48,750 shares of the company’s stock valued at $114,000 after buying an additional 6,295 shares during the period. T3 Companies LLC purchased a new stake in Pyxis Oncology in the third quarter worth about $61,000. Finally, Renaissance Technologies LLC lifted its stake in Pyxis Oncology by 22.0% in the first quarter. Renaissance Technologies LLC now owns 888,680 shares of the company’s stock worth $1,297,000 after acquiring an additional 160,300 shares during the period. Hedge funds and other institutional investors own 39.07% of the company’s stock.

Pyxis Oncology Company Profile

Pyxis Oncology, Inc is a clinical-stage biotechnology company focused on developing antibody-based therapies for the treatment of cancer. The company aims to address limitations of existing cancer treatments by designing therapeutics intended to selectively target tumors and activate the immune system while minimizing effects on healthy tissue.

Pyxis Oncology’s pipeline includes antibody-drug conjugates and immunotherapies designed to act on targets in the tumor microenvironment. Its lead programs have included PYX-201, an antibody-drug conjugate intended to deliver a cytotoxic payload to tumors expressing the fibronectin extra domain-B target, and other investigational antibody-based programs directed at immune-suppressive pathways.