Investing

Tang Capital Partners Buys PYXS / Pyxis Oncology After Q3 Results Reported

Fintel Staff

Published: November 7, 2022 3:45 am

Last Updated: November 7, 2022 12:15 pm

Tang Capital Partners Lp has filed a 13G form with the SEC disclosing ownership of 1,981,426 shares of Pyxis Oncology Inc (PYXS). This represents 5.6% of the company.

On November 1, Pyxis reported Q3 results. Financial highlights include:

• Pyxis Oncology had cash and cash equivalents (including restricted cash) of $200.0 million as of September 30, 2022, which is expected to fund operations into the end of 2024.
• Research and development expenses were $19.0 million for the three months ended September 30, 2022, compared to $7.8 million for the three months ended September 30, 2021. The increase was primarily due to increased expenses associated with contract manufacturing of drug products and drug substance, preclinical cost related to toxicity studies and an increase in employee headcount to support research and development activities.
• General and administrative expenses were $9.4 million for the three months ended September 30, 2022, compared to $3.8 million for the three months ended September 30, 2021. The increase was primarily due to a higher personnel-related expenses (including stock-based compensation), and an increase in legal and professional fees, rent and directors and officers insurance expense to support our growth and operations.
• Net loss was $27.7 million, or $(0.85) per common share, for the three months ended September 30, 2022, compared to $14.2 million, or $(8.96) per common share, for the three months ended September 30, 2021. Net loss for the three months ended September 30, 2022 and 2021 included $4.4 million and $0.3 million, respectively, related to non-cash stock-based compensation expense.
• As of November 1, 2022, the outstanding number of shares of Common Stock of Pyxis Oncology was 35,097,256.

What are other large shareholders doing?

Laurion Capital Management LP holds 3,170,803 shares representing 9.87% ownership of the company. In it’s prior filing, the firm reported owning 1,219,832 shares, representing an increase of 61.53%. The firm increased its portfolio allocation in PYXS by 93.34% over the last quarter.

Bvf Inc/il holds 2,938,851 shares representing 9.14% ownership of the company. In it’s prior filing, the firm reported owning 2,861,851 shares, representing an increase of 2.62%. The firm decreased its portfolio allocation in PYXS by 26.97% over the last quarter.

Perceptive Advisors Llc holds 1,528,812 shares representing 4.76% ownership of the company. No change in the last quarter.

Citadel Advisors Llc holds 1,520,936 shares representing 4.73% ownership of the company. In it’s prior filing, the firm reported owning 1,522,498 shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in PYXS by 25.79% over the last quarter.

Tang Capital Management Llc holds 1,379,080 shares representing 4.29% ownership of the company.

What is the overall institutional sentiment?

There are 109 funds or institutions reporting positions in Pyxis Oncology Inc. This is a decrease of 12 owner(s) or 9.92%.

Average portfolio weight of all funds dedicated to Pyxis Oncology Inc is 0.0300%, an increase of 61.1666%. Total shares owned by institutions increased in the last three months by 8.92% to 21,057,965 shares.

This article originally appeared on Fintel