Pieris Pharmaceuticals (NASDAQ:PIRS) Sees Unusually-High Trading Volume

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) shares saw strong trading volume on Tuesday . 31,577 shares changed hands during trading, an increase of 316% from the previous session’s volume of 7,598 shares.The stock last traded at $11.65 and had previously closed at $11.69.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Pieris Pharmaceuticals in a research note on Sunday. They issued a “hold” rating on the stock.

Pieris Pharmaceuticals Price Performance

The stock has a 50 day moving average of $13.87 and a two-hundred day moving average of $15.47.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings results on Friday, March 29th. The biotechnology company reported ($4.00) earnings per share 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 during the quarter.

Hedge Funds Weigh In On Pieris Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of PIRS. CM Management LLC grew its stake in Pieris Pharmaceuticals by 18.1% during 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. Acadian Asset Management LLC lifted 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 buying an additional 378,339 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Pieris Pharmaceuticals during the 1st quarter valued at about $26,000. 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.