Pieris Pharmaceuticals (NASDAQ:PIRS) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a report issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Trading Down 2.7 %

Shares of NASDAQ PIRS opened at $10.21 on Thursday. The stock has a market cap of $13.48 million, a P/E ratio of -0.85 and a beta of 0.55. Pieris Pharmaceuticals has a twelve month low of $10.31 and a twelve month high of $80.80. The stock has a 50 day moving average of $12.87 and a two-hundred day moving average of $13.97.

Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Friday, March 29th. The biotechnology company reported ($4.00) EPS for the quarter. Pieris Pharmaceuticals had a negative net margin of 39.71% and a negative return on equity of 57.57%. The business had revenue of $1.30 million during the quarter.

Hedge Funds Weigh In On Pieris Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in PIRS. Acadian Asset Management LLC raised its stake 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 acquiring an additional 378,339 shares during the last quarter. CM Management LLC raised its stake 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 worth $194,000 after purchasing an additional 99,400 shares during the last quarter. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Pieris Pharmaceuticals during the first quarter worth $26,000. Hedge funds and other institutional investors 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.