Acadian Asset Management LLC Cuts Stock Holdings in Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)

Acadian Asset Management LLC cut its stake in Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) by 7.4% in the second quarter, HoldingsChannel reports. The firm owned 584,019 shares of the biotechnology company’s stock after selling 46,671 shares during the quarter. Acadian Asset Management LLC’s holdings in Pieris Pharmaceuticals were worth $96,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hsbc Holdings PLC raised its position in Pieris Pharmaceuticals by 55.6% in the 1st quarter. Hsbc Holdings PLC now owns 20,556 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 7,343 shares in the last quarter. Raymond James & Associates raised its holdings in Pieris Pharmaceuticals by 50.0% in the fourth quarter. Raymond James & Associates now owns 30,000 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 10,000 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Pieris Pharmaceuticals in the first quarter worth approximately $32,000. Blair William & Co. IL grew its holdings in Pieris Pharmaceuticals by 9.1% during the 1st quarter. Blair William & Co. IL now owns 128,745 shares of the biotechnology company’s stock worth $390,000 after acquiring an additional 10,760 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Pieris Pharmaceuticals in the 1st quarter valued at approximately $39,000. 75.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pieris Pharmaceuticals Stock Performance

PIRS opened at $0.22 on Tuesday. Pieris Pharmaceuticals, Inc. has a one year low of $0.16 and a one year high of $1.97. The company has a market cap of $22.07 million, a P/E ratio of -0.64 and a beta of 0.71. The business’s 50-day simple moving average is $0.28 and its 200-day simple moving average is $0.41.

Pieris Pharmaceuticals Company Profile

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs. The company develops anticalin proteins that are low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins found in human blood plasma and other bodily fluids.