Insider Selling: Pieris Pharmaceuticals Inc (PIRS) Major Shareholder Sells $841,519.50 in Stock

Pieris Pharmaceuticals Inc (NASDAQ:PIRS) major shareholder Orbimed Advisors Llc sold 147,635 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $5.70, for a total transaction of $841,519.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Pieris Pharmaceuticals Inc (NASDAQ PIRS) opened at $6.37 on Friday. Pieris Pharmaceuticals Inc has a fifty-two week low of $1.38 and a fifty-two week high of $6.65. The stock has a market cap of $265.63, a P/E ratio of -8.61 and a beta of 1.79.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. Pieris Pharmaceuticals had a negative net margin of 321.83% and a negative return on equity of 221.93%. The company had revenue of $3.93 million for the quarter, compared to analysts’ expectations of $1.52 million. The company’s quarterly revenue was up 400.3% compared to the same quarter last year. analysts forecast that Pieris Pharmaceuticals Inc will post -0.72 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC bought a new position in Pieris Pharmaceuticals in the second quarter worth approximately $100,000. Wells Fargo & Company MN bought a new position in Pieris Pharmaceuticals in the third quarter worth approximately $105,000. State of Wisconsin Investment Board bought a new position in Pieris Pharmaceuticals in the second quarter worth approximately $132,000. The Manufacturers Life Insurance Company raised its position in Pieris Pharmaceuticals by 1,106.3% in the second quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 29,150 shares during the period. Finally, Rhumbline Advisers bought a new position in Pieris Pharmaceuticals in the second quarter worth approximately $184,000. Institutional investors and hedge funds own 50.45% of the company’s stock.

Several brokerages recently issued reports on PIRS. ValuEngine cut shares of Pieris Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, December 1st. HC Wainwright set a $9.00 target price on shares of Pieris Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.00.

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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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