Alpine Global Management LLC acquired a new stake in shares of Pieris Pharmaceuticals Inc (NASDAQ:PIRS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,000 shares of the biotechnology company’s stock, valued at approximately $136,000.
A number of other institutional investors and hedge funds have also modified their holdings of PIRS. Bank of Montreal Can bought a new position in Pieris Pharmaceuticals during the fourth quarter valued at approximately $144,000. Cetera Advisor Networks LLC bought a new position in Pieris Pharmaceuticals during the fourth quarter valued at approximately $124,000. Wells Fargo & Company MN raised its position in Pieris Pharmaceuticals by 354.8% during the fourth quarter. Wells Fargo & Company MN now owns 82,603 shares of the biotechnology company’s stock valued at $623,000 after acquiring an additional 64,439 shares in the last quarter. BlackRock Inc. raised its position in Pieris Pharmaceuticals by 4.4% during the fourth quarter. BlackRock Inc. now owns 1,596,382 shares of the biotechnology company’s stock valued at $12,053,000 after acquiring an additional 67,895 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in Pieris Pharmaceuticals during the fourth quarter valued at approximately $432,000. 63.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Orbimed Advisors Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $6.35, for a total transaction of $6,350,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James A. Geraghty bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were bought at an average cost of $5.75 per share, for a total transaction of $57,500.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $115,000. The disclosure for this purchase can be found here. Company insiders own 4.05% of the company’s stock.
A number of equities analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Pieris Pharmaceuticals in a research report on Monday, March 19th. They issued an “outperform” rating and a $13.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of Pieris Pharmaceuticals in a research report on Monday, March 19th. They issued a “buy” rating and a $12.00 price target on the stock. BidaskClub lowered shares of Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 17th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Pieris Pharmaceuticals in a research report on Friday, March 9th. Finally, ValuEngine raised shares of Pieris Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Pieris Pharmaceuticals has an average rating of “Buy” and an average price target of $12.33.
Pieris Pharmaceuticals opened at $5.17 on Monday, MarketBeat reports. Pieris Pharmaceuticals Inc has a 12 month low of $4.21 and a 12 month high of $9.75. The company has a market capitalization of $279.05 million, a PE ratio of -12.93 and a beta of 1.65.
Pieris Pharmaceuticals (NASDAQ:PIRS) last released its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.14). Pieris Pharmaceuticals had a negative net margin of 65.40% and a negative return on equity of 96.56%. The firm had revenue of $4.15 million during the quarter, compared to the consensus estimate of $11.39 million. sell-side analysts forecast that Pieris Pharmaceuticals Inc will post -0.48 EPS for the current year.
Pieris Pharmaceuticals Company Profile
Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. It develops anticalin proteins that are low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins found in blood plasma and other bodily fluids.
Want to see what other hedge funds are holding PIRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pieris Pharmaceuticals Inc (NASDAQ:PIRS).
Receive News & Ratings for Pieris Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pieris Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.