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

StockNews.com assumed coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a research note released on Monday morning. The firm issued a hold rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Trading Down 3.8 %

PIRS opened at $11.24 on Monday. The stock’s 50-day moving average price is $13.70 and its 200 day moving average price is $14.98. Pieris Pharmaceuticals has a 12-month low of $10.82 and a 12-month high of $80.80. The firm has a market cap of $13.94 million, a price-to-earnings ratio of -0.50 and a beta of 0.55.

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

Hedge Funds Weigh In On Pieris Pharmaceuticals

Several hedge funds have recently bought and sold shares of PIRS. Summit Trail Advisors LLC acquired a new position in Pieris Pharmaceuticals during the 1st quarter worth about $26,000. CM Management LLC raised its position in Pieris Pharmaceuticals by 18.1% in 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 in the last quarter. Finally, Acadian Asset Management LLC raised its position in Pieris Pharmaceuticals by 64.8% in 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 in the last quarter. 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.