PYXS - Pyxis Oncology surges 42% to hit 11-month high

2023-03-28 14:37:12 ET

Extending a three-day winning streak, shares of Pyxis Oncology ( PYXS ), a micro-cap biotech backed by Pfizer ( PFE ), added ~42% on Tuesday to reach the highest level since April 2022 on above-average volume.

About 35.6M Pyxis ( PYXS ) shares have changed hands so far, compared to the 65-day average volume of ~657.2K, and the stock is trading ~30% below its 52-week high reached in April last year.

The recent rally began last week, days after Pfizer ( PFE ) raised its stake in the cancer-focused clinical-stage biotech by more than a third with the purchase of ~1.8M company shares for nearly $5M.

Seeking Alpha analyst Biotech Beast issued a Buy rating on PYXS Monday, citing an attractive entry point ahead of a potential early Phase 1 readout for its antibody-drug conjugate PYX-201 in H2 2023.

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