Begins Coverage on Pieris Pharmaceuticals (NASDAQ:PIRS) started coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRSFree Report) in a research note issued to investors on Thursday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Stock Down 0.1 %

NASDAQ PIRS opened at $10.48 on Thursday. The business’s 50-day moving average price is $12.87 and its 200 day moving average price is $13.97. The firm has a market cap of $13.83 million, a P/E ratio of -0.88 and a beta of 0.55. Pieris Pharmaceuticals has a 52-week low of $10.31 and a 52-week high of $80.80.

Pieris Pharmaceuticals (NASDAQ:PIRSGet Free Report) last released 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 net margin of 39.71% and a negative return on equity of 57.57%. The company had revenue of $1.30 million during the quarter.

Institutional Trading of Pieris Pharmaceuticals

Several hedge funds have recently made changes to their positions in PIRS. Acadian Asset Management LLC raised its holdings 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 purchasing an additional 378,339 shares in the last quarter. CM Management LLC increased 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 worth $194,000 after purchasing an additional 99,400 shares during the period. Finally, Summit Trail Advisors LLC purchased a new position in shares of Pieris Pharmaceuticals during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds own 40.11% of the company’s stock.

Pieris Pharmaceuticals Company Profile

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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.

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