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

Equities research analysts at StockNews.com assumed coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRSGet Free Report) in a note issued to investors on Saturday. The firm set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Stock Performance

Shares of NASDAQ PIRS opened at $0.17 on Friday. The firm has a market cap of $16.99 million, a price-to-earnings ratio of -0.61 and a beta of 0.48. The business’s 50-day simple moving average is $0.17 and its 200-day simple moving average is $0.20. Pieris Pharmaceuticals has a 52 week low of $0.14 and a 52 week high of $1.01.

Pieris Pharmaceuticals (NASDAQ:PIRSGet Free Report) last released its earnings results on Friday, March 29th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter. The business 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 Trading of Pieris Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PIRS. Bank of America Corp DE grew its holdings in Pieris Pharmaceuticals by 589.3% in the 4th quarter. Bank of America Corp DE now owns 3,665,668 shares of the biotechnology company’s stock valued at $3,812,000 after buying an additional 3,133,838 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Pieris Pharmaceuticals in the 1st quarter valued at approximately $1,263,000. Millennium Management LLC grew its holdings in Pieris Pharmaceuticals by 259.3% in the 4th quarter. Millennium Management LLC now owns 554,918 shares of the biotechnology company’s stock valued at $577,000 after buying an additional 400,484 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Pieris Pharmaceuticals by 64.8% in the 3rd 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 during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Pieris Pharmaceuticals by 155.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 392,871 shares of the biotechnology company’s stock worth $452,000 after acquiring an additional 238,980 shares during the period. Institutional investors and hedge funds own 40.11% of the company’s stock.

Pieris Pharmaceuticals Company Profile

(Get Free Report)

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.

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