Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) Sees Large Drop in Short Interest

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 300 shares, a decline of 99.8% from the March 31st total of 134,100 shares. Based on an average daily volume of 10,500 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Pieris Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Summit Trail Advisors LLC bought a new stake in Pieris Pharmaceuticals in the first quarter worth about $26,000. CM Management LLC boosted 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 valued at $194,000 after buying an additional 99,400 shares during the period. Finally, Acadian Asset Management LLC grew its stake 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 acquiring an additional 378,339 shares in the last quarter. 40.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Pieris Pharmaceuticals in a research report on Sunday. They set a “hold” rating on the stock.

Pieris Pharmaceuticals Trading Down 2.8 %

Shares of NASDAQ PIRS traded down $0.33 during trading hours on Thursday, hitting $11.60. 28,382 shares of the company traded hands, compared to its average volume of 9,493. The company’s 50 day moving average price is $13.86 and its 200 day moving average price is $15.45. Pieris Pharmaceuticals has a 12 month low of $10.89 and a 12 month high of $80.80. The stock has a market capitalization of $14.38 million, a price-to-earnings ratio of -0.52 and a beta of 0.48.

Pieris Pharmaceuticals (NASDAQ:PIRS) 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 net margin of 57.33% and a negative return on equity of 90.17%. The firm had revenue of $1.30 million for the quarter.

About Pieris Pharmaceuticals

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.