Pieris Pharmaceuticals (NASDAQ:PIRS) Sees Unusually-High Trading Volume

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) saw unusually-strong trading volume on Tuesday . Approximately 31,577 shares changed hands during trading, an increase of 316% from the previous session’s volume of 7,598 shares.The stock last traded at $11.65 and had previously closed at $11.69.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Pieris Pharmaceuticals in a report on Sunday. They set a “hold” rating on the stock.

Pieris Pharmaceuticals Trading Down 0.6 %

The company’s fifty day moving average price is $13.87 and its two-hundred day moving average price is $15.47.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PIRS. Acadian Asset Management LLC raised its holdings in Pieris Pharmaceuticals by 64.8% in the third quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after buying an additional 378,339 shares during the period. Summit Trail Advisors LLC purchased a new position in Pieris Pharmaceuticals in the first quarter valued at approximately $26,000. Finally, CM Management LLC raised its holdings in Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock valued at $194,000 after buying an additional 99,400 shares during the period. 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.