Zacks Investment Research Lowers PDS Biotechnology (NASDAQ:PDSB) to Hold


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Zacks Investment Research cut shares of PDS Biotechnology (NASDAQ:PDSB) from a buy rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

According to Zacks, “PDS Biotechnology Corp. is an immuno-oncology company. It is focused on developing a pipeline of clinical-stage immunotherapies to treat cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, cancer and other cancers. The company’s products are based on the proprietary Versamune(R) platform technology, which activates and directs the human immune system. PDS Biotechnology Corp, formerly known as Edge Therapeutics Inc., is based in Berkeley Heights, United States. “

A number of other research firms have also recently weighed in on PDSB. Oppenheimer reaffirmed a buy rating and set a $7.00 price objective on shares of PDS Biotechnology in a research report on Thursday, March 11th. Chardan Capital reissued a buy rating and issued a $10.00 price target on shares of PDS Biotechnology in a report on Saturday, April 10th. Finally, HC Wainwright boosted their price target on PDS Biotechnology from $6.00 to $8.00 and gave the stock a buy rating in a report on Thursday, March 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $7.27.

PDSB stock opened at $4.96 on Friday. PDS Biotechnology has a twelve month low of $0.81 and a twelve month high of $7.30. The stock has a market cap of $110.42 million, a P/E ratio of -3.01 and a beta of 2.70. The business’s 50-day moving average price is $4.79 and its 200-day moving average price is $3.28.

PDS Biotechnology (NASDAQ:PDSB) last posted its quarterly earnings data on Thursday, March 18th. The company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.02. As a group, equities analysts forecast that PDS Biotechnology will post -0.9 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Inspirion Wealth Advisors LLC lifted its holdings in PDS Biotechnology by 4.1% in the 1st quarter. Inspirion Wealth Advisors LLC now owns 248,912 shares of the company’s stock worth $1,133,000 after purchasing an additional 9,885 shares in the last quarter. Newman & Schimel LLC purchased a new stake in shares of PDS Biotechnology during the 4th quarter worth approximately $25,000. Ellis Investment Partners LLC raised its holdings in shares of PDS Biotechnology by 693.3% during the 4th quarter. Ellis Investment Partners LLC now owns 17,850 shares of the company’s stock worth $38,000 after acquiring an additional 15,600 shares in the last quarter. Andesa Financial Management Inc. raised its holdings in shares of PDS Biotechnology by 100.0% during the 1st quarter. Andesa Financial Management Inc. now owns 33,310 shares of the company’s stock worth $152,000 after acquiring an additional 16,655 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of PDS Biotechnology by 5.7% during the 4th quarter. Renaissance Technologies LLC now owns 828,721 shares of the company’s stock worth $1,773,000 after acquiring an additional 44,864 shares in the last quarter. 14.80% of the stock is currently owned by institutional investors.

About PDS Biotechnology

PDS Biotechnology Corporation, a clinical-stage biopharmaceutical company, focuses on developing multifunctional cancer immunotherapies. Its lead product candidate is PDS0101 (HPV16), which is in Phase II clinical trial provides a first line treatment for the recurrent/metastatic head and neck cancer, human papillomavirus associated malignancies, and cervical cancer.

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