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

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

Pieris Pharmaceuticals Stock Performance

Shares of PIRS stock opened at $11.71 on Monday. Pieris Pharmaceuticals has a 52 week low of $10.89 and a 52 week high of $80.80. The company’s 50 day moving average price is $13.81 and its two-hundred day moving average price is $15.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PIRS. Acadian Asset Management LLC lifted its stake in 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. CM Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock valued at $194,000 after purchasing an additional 99,400 shares during the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in shares of Pieris Pharmaceuticals in the first quarter worth $26,000. 40.11% of the stock is owned by institutional investors and hedge funds.

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.