Pieris Pharmaceuticals, Inc. (PIRS) Shares Down 5.3%
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.
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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.
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