StockNews.com Begins Coverage on Pieris Pharmaceuticals (NASDAQ:PIRS)

Equities researchers at StockNews.com initiated coverage on shares of Pieris Pharmaceuticals (NASDAQ:PIRS) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Pieris Pharmaceuticals Trading Down 15.7 %

Pieris Pharmaceuticals stock opened at $13.60 on Wednesday. The firm has a market cap of $17.95 million, a PE ratio of -1.12 and a beta of 0.61. The stock’s 50 day simple moving average is $16.04 and its two-hundred day simple moving average is $14.70. Pieris Pharmaceuticals has a 12 month low of $6.20 and a 12 month high of $22.32.

Institutional Trading of Pieris Pharmaceuticals

A hedge fund recently bought a new stake in Pieris Pharmaceuticals stock. Frazier Life Sciences Management L.P. bought a new position in shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,942 shares of the biotechnology company’s stock, valued at approximately $267,000. Frazier Life Sciences Management L.P. owned approximately 1.21% of Pieris Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 40.11% of the company’s stock.

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.