StockNews.com Begins Coverage on Pieris Pharmaceuticals (NASDAQ:PIRS)

StockNews.com assumed coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a research report released on Sunday. The brokerage issued a hold rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Stock Performance

Shares of PIRS opened at $11.93 on Friday. The stock’s 50-day simple moving average is $13.87 and its 200 day simple moving average is $15.47. The stock has a market capitalization of $14.76 million, a price-to-earnings ratio of -42.61 and a beta of 0.48. Pieris Pharmaceuticals has a 52-week low of $10.89 and a 52-week high of $80.80.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings data 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 company had revenue of $1.30 million for the quarter.

Institutional Trading of Pieris Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. CM Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 18.1% in the 3rd quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 99,400 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in shares of Pieris Pharmaceuticals in the 1st quarter valued at about $26,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 64.8% in the 3rd quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after acquiring an additional 378,339 shares in the last quarter. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.