Pieris Pharmaceuticals (NASDAQ:PIRS) Shares Gap Down to $12.00

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) gapped down before the market opened on Wednesday . The stock had previously closed at $12.00, but opened at $11.71. Pieris Pharmaceuticals shares last traded at $11.30, with a volume of 14,761 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Pieris Pharmaceuticals in a research report on Sunday, April 21st. They set a “hold” rating on the stock.

Pieris Pharmaceuticals Stock Performance

The company’s 50-day moving average is $13.86 and its 200 day moving average is $15.45.

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

Hedge Funds Weigh In On Pieris Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CM Management LLC lifted its stake in Pieris Pharmaceuticals by 18.1% during the 3rd quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 99,400 shares during the period. Summit Trail Advisors LLC bought a new position in Pieris Pharmaceuticals during the 1st quarter valued at about $26,000. Finally, Acadian Asset Management LLC lifted its stake in Pieris Pharmaceuticals by 64.8% during the 3rd quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after acquiring an additional 378,339 shares during the period. 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.