Pieris Pharmaceuticals (NASDAQ:PIRS) Sees Large Volume Increase

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) saw an uptick in 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 Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Pieris Pharmaceuticals in a report on Sunday. They set a “hold” rating on the stock.

Pieris Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.24 billion, a P/E ratio of -45.64 and a beta of 0.48. The stock’s fifty day simple moving average is $0.17 and its two-hundred day simple moving average is $0.19.

Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its 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 business had revenue of $1.30 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PIRS. Acadian Asset Management LLC lifted its position 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 worth $286,000 after purchasing an additional 378,339 shares during the period. Summit Trail Advisors LLC acquired a new position in shares of Pieris Pharmaceuticals in the 1st quarter worth approximately $26,000. Finally, CM Management LLC lifted its position 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 worth $194,000 after purchasing an additional 99,400 shares during the period. Institutional investors and hedge funds 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.