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

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)’s stock price 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 traded.

Wall Street Analysts Forecast Growth

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

Pieris Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is $13.88 and its two-hundred day moving average price is $15.56. The stock has a market capitalization of $1.15 billion, a PE ratio of -43.00 and a beta of 0.48.

Pieris Pharmaceuticals (NASDAQ:PIRS) last released its earnings results on Friday, March 29th. The biotechnology company reported ($4.00) earnings per share for the quarter. The business 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 Trading of Pieris Pharmaceuticals

Several institutional investors have recently bought and sold shares of PIRS. Acadian Asset Management LLC grew its position in 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 purchasing an additional 378,339 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Pieris Pharmaceuticals during the 1st quarter valued at about $26,000. Finally, CM Management LLC grew its position 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 purchasing an additional 99,400 shares during the last quarter. 40.11% of the stock is owned by hedge funds and other institutional investors.

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.