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

Equities researchers at StockNews.com started coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a report released on Tuesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Price Performance

PIRS stock opened at $11.14 on Tuesday. The company’s 50-day moving average is $13.53 and its 200-day moving average is $14.66. The stock has a market capitalization of $13.78 million, a PE ratio of -0.50 and a beta of 0.55. Pieris Pharmaceuticals has a 1 year low of $10.60 and a 1 year high of $80.80.

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

Institutional Investors Weigh In On Pieris Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in PIRS. Acadian Asset Management LLC lifted its position 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. CM Management LLC increased its position in shares of Pieris Pharmaceuticals by 18.1% during the third 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 during the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in Pieris Pharmaceuticals in the first quarter worth $26,000. 40.11% of the stock is 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.