Short Interest in Pieris Pharmaceuticals Inc (NASDAQ:PIRS) Decreases By 14.0%

Pieris Pharmaceuticals Inc (NASDAQ:PIRS) was the target of a significant drop in short interest during the month of November. As of November 29th, there was short interest totalling 1,780,000 shares, a drop of 14.0% from the November 14th total of 2,070,000 shares. Based on an average trading volume of 758,700 shares, the short-interest ratio is currently 2.3 days. Approximately 3.7% of the shares of the company are short sold.

Shares of NASDAQ PIRS traded down $0.17 during midday trading on Friday, reaching $3.29. 423,172 shares of the company traded hands, compared to its average volume of 551,914. The stock’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $4.25. Pieris Pharmaceuticals has a 12 month low of $2.39 and a 12 month high of $6.04.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings data on Monday, November 11th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.18. The company had revenue of $15.13 million during the quarter, compared to analysts’ expectations of $6.28 million. Pieris Pharmaceuticals had a negative return on equity of 132.02% and a negative net margin of 107.24%. Analysts predict that Pieris Pharmaceuticals will post -0.78 earnings per share for the current year.

Several equities research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Pieris Pharmaceuticals in a research note on Monday, November 11th. Zacks Investment Research raised Pieris Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $4.50 target price for the company in a research report on Thursday, November 28th. ValuEngine cut Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, William Blair reaffirmed a “buy” rating on shares of Pieris Pharmaceuticals in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Pieris Pharmaceuticals has an average rating of “Buy” and an average price target of $5.50.

Several hedge funds and other institutional investors have recently modified their holdings of PIRS. Nuveen Asset Management LLC bought a new position in shares of Pieris Pharmaceuticals during the second quarter valued at $3,011,000. Clear Harbor Asset Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 1,691.9% in the third quarter. Clear Harbor Asset Management LLC now owns 179,191 shares of the biotechnology company’s stock valued at $611,000 after buying an additional 169,191 shares during the last quarter. Fosun International Ltd raised its holdings in shares of Pieris Pharmaceuticals by 63.8% in the second quarter. Fosun International Ltd now owns 364,693 shares of the biotechnology company’s stock valued at $1,616,000 after buying an additional 142,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Pieris Pharmaceuticals by 3.9% in the second quarter. Renaissance Technologies LLC now owns 2,168,700 shares of the biotechnology company’s stock valued at $10,193,000 after buying an additional 80,900 shares during the last quarter. Finally, Rock Creek Group LP bought a new position in shares of Pieris Pharmaceuticals in the second quarter valued at about $353,000. 51.38% of the stock is owned by institutional investors.

Pieris Pharmaceuticals Company Profile

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. 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 blood plasma and other bodily fluids.

Further Reading: Limitations of analyzing profit margin

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