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

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS - Get Free Report) 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 initiated coverage on shares of Pieris Pharmaceuticals in a research note on Sunday. They set a "hold" rating on the stock.

Pieris Pharmaceuticals Stock Performance

The firm has a market capitalization of $14.76 million, a PE ratio of -42.61 and a beta of 0.48. The company's 50 day simple moving average is $13.87 and its 200-day simple moving average is $15.47.

Pieris Pharmaceuticals (NASDAQ:PIRS - Get Free Report) last posted 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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of 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 buying an additional 378,339 shares in the last quarter. CM Management LLC raised its position in shares of 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 buying an additional 99,400 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in shares of Pieris Pharmaceuticals during the 1st quarter valued at $26,000. 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.