Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)’s share price fell 5.3% on Tuesday . The stock traded as low as $5.15 and last traded at $5.19. 582,925 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 599,502 shares. The stock had previously closed at $5.48.

Several research firms have recently weighed in on PIRS. BidaskClub downgraded shares of Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 26th. HC Wainwright set a $9.00 price objective on shares of Pieris Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. Rodman & Renshaw began coverage on shares of Pieris Pharmaceuticals in a research report on Tuesday, May 30th. They issued a “buy” rating and a $9.00 price objective for the company. Finally, TheStreet lowered shares of Pieris Pharmaceuticals from a “c-” rating to a “d-” rating in a research report on Monday, June 12th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $8.25.

The stock’s market capitalization is $230.40 million. The company’s 50-day moving average price is $5.19 and its 200-day moving average price is $3.96.

In related news, Director James A. Geraghty bought 10,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $4.82 per share, for a total transaction of $48,200.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $48,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Allan Reine bought 65,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $4.82 per share, for a total transaction of $313,300.00. Following the purchase, the insider now directly owns 45,000 shares of the company’s stock, valued at $216,900. The disclosure for this purchase can be found here. 4.05% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PIRS. Sphera Funds Management LTD. grew its stake in Pieris Pharmaceuticals by 23.5% in the first quarter. Sphera Funds Management LTD. now owns 1,000,000 shares of the biotechnology company’s stock valued at $2,600,000 after purchasing an additional 190,000 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Pieris Pharmaceuticals in the first quarter valued at about $661,000. Creative Planning grew its stake in Pieris Pharmaceuticals by 8.3% in the second quarter. Creative Planning now owns 65,000 shares of the biotechnology company’s stock valued at $329,000 after purchasing an additional 5,000 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Pieris Pharmaceuticals in the second quarter valued at about $162,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Pieris Pharmaceuticals in the second quarter valued at about $292,000. Institutional investors own 50.55% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/09/07/pieris-pharmaceuticals-inc-pirs-shares-down-5-3.html.

About Pieris Pharmaceuticals

Pieris Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.