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

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

Pieris Pharmaceuticals Stock Performance

Pieris Pharmaceuticals stock opened at $11.06 on Tuesday. Pieris Pharmaceuticals has a twelve month low of $10.60 and a twelve month high of $80.80. The firm has a market cap of $13.71 million, a PE ratio of -0.49 and a beta of 0.55. The firm’s 50 day moving average price is $13.62 and its two-hundred day moving average price is $14.75.

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

Institutional Investors Weigh In On Pieris Pharmaceuticals

Several institutional investors have recently made changes to their positions in PIRS. Summit Trail Advisors LLC bought a new position in Pieris Pharmaceuticals during the first quarter valued at approximately $26,000. CM Management LLC increased its stake in shares of Pieris Pharmaceuticals by 18.1% during the 3rd 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 during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 64.8% during the 3rd quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 378,339 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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.