Pieris Pharmaceuticals (NASDAQ:PIRS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Pieris Pharmaceuticals (NASDAQ:PIRS) from a sell rating to a hold rating in a report issued on Tuesday morning.

Pieris Pharmaceuticals Price Performance

Pieris Pharmaceuticals stock opened at $15.59 on Tuesday. Pieris Pharmaceuticals has a 1-year low of $6.20 and a 1-year high of $22.32. The business has a fifty day moving average price of $16.57 and a 200-day moving average price of $13.83. The stock has a market capitalization of $20.58 million, a price-to-earnings ratio of -1.29 and a beta of 0.66.

Hedge Funds Weigh In On Pieris Pharmaceuticals

An institutional investor recently bought a new position in Pieris Pharmaceuticals stock. BML Capital Management LLC purchased a new stake in shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 42,130 shares of the biotechnology company’s stock, valued at approximately $699,000. Pieris Pharmaceuticals makes up 0.4% of BML Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. BML Capital Management LLC owned about 3.19% of Pieris Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 40.11% of the company’s stock.

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.