Pieris Pharmaceuticals (NASDAQ:PIRS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a report published on Wednesday. The brokerage issued a hold rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Trading Down 15.7 %

Shares of NASDAQ:PIRS opened at $13.60 on Wednesday. The company has a market cap of $17.95 million, a price-to-earnings ratio of -1.12 and a beta of 0.61. Pieris Pharmaceuticals has a 12 month low of $6.20 and a 12 month high of $22.32. The company has a 50-day moving average price of $15.97 and a 200 day moving average price of $14.70.

Hedge Funds Weigh In On Pieris Pharmaceuticals

A hedge fund recently bought a new stake in Pieris Pharmaceuticals stock. BML Capital Management LLC purchased a new position in Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,130 shares of the biotechnology company’s stock, valued at approximately $699,000. Pieris Pharmaceuticals comprises approximately 0.4% of BML Capital Management LLC’s holdings, making the stock its 21st biggest position. BML Capital Management LLC owned about 3.19% of Pieris Pharmaceuticals as of its most recent SEC filing. 40.11% of the stock is currently owned by institutional investors and hedge funds.

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.