Pyxis Oncology experienced a sharp decline in short interest in December. As of December 15, short interest totaled 1,933,041 shares, down 57.3% from 4,523,744 shares on November 30. About 3.5% of the company’s shares were sold short, and with an average daily trading volume of 645,262 shares the days-to-cover ratio stood at roughly 3.0 days.
Several institutional investors adjusted positions in recent quarters. Schulhoff & Co. Inc. increased its stake by 125.4% in the second quarter and now holds 275,000 shares valued at about $302,000 after adding 153,000 shares. 683 Capital Management LLC raised its stake 32.5% in the first quarter to 550,000 shares, worth roughly $539,000 after acquiring 135,000 shares. Y Intercept Hong Kong Ltd, Catalyst Funds Management Pty Ltd and Kingstone Capital Partners Texas LLC established new, smaller positions during the second quarter, valued at approximately $146,000, $26,000 and $37,000 respectively. Hedge funds and other institutional investors currently own about 39.09% of the stock.
PYXS stock opened at $1.14 on Friday. The company has a market capitalization of $70.67 million, a negative price-to-earnings ratio of -0.71 and a beta of 1.37. The 12-month trading range is $0.83 to $5.55. The 50-day simple moving average is $3.83 and the 200-day simple moving average is $2.37.
Pyxis Oncology reported quarterly results on November 3, posting a loss per share of $0.35, beating analysts’ consensus of a $0.36 loss by $0.01. Analysts project Pyxis will report a loss per share of about $1.04 for the current fiscal year.
Several brokerages have updated ratings and price targets recently. Stephens raised its target from $5.00 to $8.00 and assigned an overweight rating on November 24. HC Wainwright increased its target from $5.00 to $7.00 and reiterated a buy rating on December 19. Guggenheim raised its target from $5.00 to $7.00 on November 4. Royal Bank of Canada cut its target from $8.00 to $5.00 and maintained an outperform rating on December 18. Weiss Ratings reiterated a sell (d-) rating on October 8. In total, five analysts rate the stock a Buy, one a Hold and one a Sell; the consensus from MarketBeat is a Moderate Buy with an average price target of $7.20.
Pyxis Oncology is a clinical-stage biotechnology company developing targeted oncology therapies, primarily antibody-drug conjugates that deliver mitotic inhibitors to cancer cells. The company’s pipeline focuses on early-stage ADC candidates against various solid tumor antigens.
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