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

StockNews.com began coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a report issued on Saturday. The brokerage issued a hold rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Price Performance

PIRS stock opened at $0.17 on Friday. The company has a market cap of $16.82 million, a PE ratio of -0.61 and a beta of 0.48. The business has a 50-day simple moving average of $0.17 and a 200 day simple moving average of $0.20. Pieris Pharmaceuticals has a 52 week low of $0.14 and a 52 week high of $1.01.

Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its quarterly earnings results on Friday, March 29th. The biotechnology company reported ($0.05) EPS for the quarter. The company had revenue of $1.30 million during the quarter. Pieris Pharmaceuticals had a negative net margin of 57.33% and a negative return on equity of 90.17%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Pieris Pharmaceuticals by 589.3% during the fourth quarter. Bank of America Corp DE now owns 3,665,668 shares of the biotechnology company’s stock worth $3,812,000 after acquiring an additional 3,133,838 shares in the last quarter. BlackRock Inc. raised its stake in Pieris Pharmaceuticals by 1.6% during the first quarter. BlackRock Inc. now owns 1,338,437 shares of the biotechnology company’s stock worth $4,055,000 after acquiring an additional 21,150 shares in the last quarter. Acadian Asset Management LLC raised its stake in Pieris Pharmaceuticals by 64.8% during the third quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock worth $286,000 after acquiring an additional 378,339 shares in the last quarter. Renaissance Technologies LLC raised its stake in Pieris Pharmaceuticals by 26.0% during the third quarter. Renaissance Technologies LLC now owns 731,100 shares of the biotechnology company’s stock worth $841,000 after acquiring an additional 151,009 shares in the last quarter. Finally, CM Management LLC raised its stake in 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 acquiring an additional 99,400 shares in the last quarter. Institutional investors and hedge funds own 40.11% of the company’s stock.

About Pieris Pharmaceuticals

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs. The company develops anticalin proteins that are low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins found in human blood plasma and other bodily fluids.