Pieris Pharmaceuticals (NASDAQ:PIRS) Share Price Passes Below 50-Day Moving Average of $1.51

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS – Get Rating)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.51 and traded as low as $1.40. Pieris Pharmaceuticals shares last traded at $1.41, with a volume of 108,837 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 19th.

Pieris Pharmaceuticals Trading Up 0.7 %

The business’s fifty day moving average price is $1.51 and its 200 day moving average price is $1.24. The company has a market capitalization of $104.92 million, a P/E ratio of -3.00 and a beta of 1.17.

Hedge Funds Weigh In On Pieris Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in PIRS. Bank of America Corp DE increased its position in shares of Pieris Pharmaceuticals by 589.3% during the 4th quarter. Bank of America Corp DE now owns 3,665,668 shares of the biotechnology company’s stock worth $3,812,000 after purchasing an additional 3,133,838 shares in the last quarter. Lynx1 Capital Management LP increased its position in shares of Pieris Pharmaceuticals by 9.1% during the 3rd quarter. Lynx1 Capital Management LP now owns 3,515,140 shares of the biotechnology company’s stock worth $4,042,000 after purchasing an additional 291,806 shares in the last quarter. BlackRock Inc. increased its position in shares of Pieris Pharmaceuticals by 1.6% during the 1st quarter. BlackRock Inc. now owns 1,338,437 shares of the biotechnology company’s stock worth $4,055,000 after purchasing an additional 21,150 shares in the last quarter. Platinum Investment Management Ltd. increased its position in Pieris Pharmaceuticals by 11.1% in the 3rd quarter. Platinum Investment Management Ltd. now owns 1,220,798 shares of the biotechnology company’s stock valued at $1,404,000 after acquiring an additional 121,910 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at about $2,597,000. 47.31% of the stock is owned by institutional investors.

About Pieris Pharmaceuticals

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Pieris Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the discovery and development of Anticalin-based drugs. Its pipeline includes immuno-oncology, respiratory, and anemia and other disease areas. The company was founded by Claus Schalper and Arne Skerra in 2001 and is headquartered in Boston, MA.