Pieris Pharmaceuticals (NASDAQ:PIRS) Shares Gap Down to $12.00

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) gapped down prior to trading on Wednesday . The stock had previously closed at $12.00, but opened at $11.71. Pieris Pharmaceuticals shares last traded at $11.30, with a volume of 14,761 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Pieris Pharmaceuticals in a report on Sunday, April 21st. They issued a “hold” rating on the stock.

Pieris Pharmaceuticals Stock Down 2.8 %

The company has a fifty day moving average of $13.86 and a 200 day moving average of $15.45.

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

Hedge Funds Weigh In On Pieris Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of PIRS. Summit Trail Advisors LLC bought a new position in shares of Pieris Pharmaceuticals during the 1st quarter worth approximately $26,000. CM Management LLC boosted its holdings 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 buying an additional 99,400 shares in the last quarter. Finally, Acadian Asset Management LLC boosted 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 worth $286,000 after buying an additional 378,339 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors.

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.