Pieris Pharmaceuticals (NASDAQ:PIRS) Sees Large Volume Increase

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) saw unusually-strong trading volume on Tuesday . Approximately 31,577 shares traded 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.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Pieris Pharmaceuticals in a report on Sunday. They issued a “hold” rating for the company.

Pieris Pharmaceuticals Price Performance

The company has a market capitalization of $1.24 billion, a PE ratio of -45.64 and a beta of 0.48. The firm has a 50-day moving average of $0.17 and a 200 day moving average of $0.19.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced 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 during the quarter.

Institutional Trading of Pieris Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised 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 in the last quarter. Summit Trail Advisors LLC acquired a new position in shares of Pieris Pharmaceuticals in the first quarter valued at about $26,000. Finally, CM Management LLC boosted its stake in shares of Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock worth $194,000 after buying an additional 99,400 shares during the last quarter. 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.