Pieris Pharmaceuticals (NASDAQ:PIRS) Sees Large Volume Increase

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS - Get Free Report) shares saw strong trading volume on Tuesday . 31,577 shares traded hands during mid-day 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 Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Pieris Pharmaceuticals in a report on Sunday. They issued a "hold" rating on the stock.

Pieris Pharmaceuticals Trading Up 8,140.9 %

The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -42.61 and a beta of 0.48. The firm has a fifty day moving average price of $13.88 and a 200 day moving average price of $15.56.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PIRS. Acadian Asset Management LLC raised its position in 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 purchasing an additional 378,339 shares during the last quarter. Summit Trail Advisors LLC bought a new position in Pieris Pharmaceuticals in the 1st quarter worth approximately $26,000. Finally, CM Management LLC raised its position in Pieris Pharmaceuticals by 18.1% in the 3rd quarter. CM Management LLC now owns 649,400 shares of the biotechnology company's stock worth $194,000 after purchasing 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.