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

Analysts at StockNews.com assumed coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a research note issued on Monday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Price Performance

Shares of Pieris Pharmaceuticals stock opened at $11.72 on Monday. The firm has a fifty day moving average price of $13.82 and a 200 day moving average price of $15.19. Pieris Pharmaceuticals has a 1 year low of $10.89 and a 1 year high of $80.80. The stock has a market cap of $14.53 million, a PE ratio of -0.52 and a beta of 0.48.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PIRS. Summit Trail Advisors LLC purchased a new position in Pieris Pharmaceuticals in the first quarter valued at $26,000. Acadian Asset Management LLC increased its holdings in Pieris Pharmaceuticals by 64.8% in the third quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after buying an additional 378,339 shares in the last quarter. Finally, CM Management LLC increased its holdings in Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 99,400 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

About Pieris Pharmaceuticals

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.