Pieris Pharmaceuticals (NASDAQ:PIRS) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a report released on Monday. The firm set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Price Performance

Shares of PIRS opened at $11.71 on Monday. Pieris Pharmaceuticals has a one year low of $10.89 and a one year high of $80.80. The company has a 50-day moving average of $13.77 and a two-hundred day moving average of $15.03. The stock has a market cap of $14.52 million, a price-to-earnings ratio of -0.52 and a beta of 0.48.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its earnings results on Friday, March 29th. The biotechnology company reported ($4.00) EPS for the quarter. Pieris Pharmaceuticals had a negative return on equity of 90.17% and a negative net margin of 57.33%. The firm had revenue of $1.30 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in shares of Pieris Pharmaceuticals by 64.8% in the third quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock worth $286,000 after buying an additional 378,339 shares during the period. CM Management LLC lifted its position in shares of Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock worth $194,000 after purchasing an additional 99,400 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in shares of Pieris Pharmaceuticals in the first quarter worth approximately $26,000. 40.11% of the stock is currently owned by institutional investors and hedge funds.

Pieris Pharmaceuticals Company Profile

Pieris Pharmaceuticals, Inc, a biotechnology company, discovers and develops biotechnological applications. The company focuses on the development of its 4-1BB bispecifics immuno-oncology (IO) programs. Its clinical pipeline consists of IO bispecifics, including S095012 (PRS-344), a bispecific Mabcalin compound targeting PD-L1 and 4-1BB in partnership with Les Laboratoires Servier and Institut de Recherches Internationales Servier; SGN-BB228 (PRS-346), a CD228 x 4-1BB bispecific antibody-Anticalin compound targeting CD228 and 4-1BB in partnership with Pfizer Inc; and BOS-342 (PRS-342), a GPC3 x 4-1BB bispecific Mabcalin compound targeting GPC3 and 4-1BB in partnership with Boston Pharmaceuticals, which are in phase 1 studies.