Short Interest in Pieris Pharmaceuticals, Inc. (PIRS) Declines By 28.4%
Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 1,734,180 shares, a drop of 28.4% from the August 31st total of 2,422,384 shares. Based on an average daily volume of 253,202 shares, the days-to-cover ratio is currently 6.8 days. Approximately 4.0% of the shares of the stock are sold short.
Several research firms recently issued reports on PIRS. HC Wainwright set a $9.00 target price on Pieris Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday. BidaskClub cut Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 26th. Finally, TheStreet cut Pieris Pharmaceuticals from a “c-” rating to a “d-” rating in a research report on Monday, June 12th. Four research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $9.00.
In other Pieris Pharmaceuticals news, insider Allan Reine bought 65,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $4.82 per share, for a total transaction of $313,300.00. Following the completion of the transaction, the insider now owns 45,000 shares of the company’s stock, valued at approximately $216,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James A. Geraghty bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $4.82 per share, with a total value of $48,200.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $48,200. The disclosure for this purchase can be found here. Company insiders own 4.05% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Creative Planning raised its holdings in shares of Pieris Pharmaceuticals by 8.3% during the second quarter. Creative Planning now owns 65,000 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 5,000 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of Pieris Pharmaceuticals during the second quarter valued at approximately $100,000. State of Wisconsin Investment Board acquired a new position in shares of Pieris Pharmaceuticals during the second quarter valued at approximately $132,000. The Manufacturers Life Insurance Company raised its holdings in shares of Pieris Pharmaceuticals by 1,106.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 29,150 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Pieris Pharmaceuticals during the second quarter valued at approximately $162,000. 50.50% of the stock is owned by institutional investors and hedge funds.
Pieris Pharmaceuticals (NASDAQ:PIRS) opened at 6.34 on Thursday. The stock’s market cap is $280.91 million. The firm’s 50-day moving average price is $5.55 and its 200 day moving average price is $5.55. Pieris Pharmaceuticals has a 12-month low of $1.30 and a 12-month high of $6.48.
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Pieris Pharmaceuticals Company Profile
Pieris Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids.
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