20,000 Shares in Pieris Pharmaceuticals Inc (PIRS) Acquired by Alpine Global Management LLC

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.

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Institutional Ownership by Quarter for Pieris Pharmaceuticals (NASDAQ:PIRS)

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