Pieris Pharmaceuticals Stock to Reverse Split on Tuesday, April 23rd (NASDAQ:PIRS)

Shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) are going to reverse split before the market opens on Tuesday, April 23rd. The 1-80 reverse split was announced on Tuesday, April 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 23rd.

Pieris Pharmaceuticals Trading Down 6.6 %

PIRS stock traded down $0.01 during trading on Friday, hitting $0.15. The company had a trading volume of 1,919,826 shares, compared to its average volume of 580,219. The business has a 50-day moving average of $0.17 and a 200-day moving average of $0.20. Pieris Pharmaceuticals has a one year low of $0.14 and a one year high of $1.01. The stock has a market cap of $14.34 million, a PE ratio of -0.52 and a beta of 0.48.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its earnings results on Friday, March 29th. The biotechnology company reported ($0.05) EPS for the quarter. The company had revenue of $1.30 million during the quarter. Pieris Pharmaceuticals had a negative net margin of 57.33% and a negative return on equity of 90.17%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Pieris Pharmaceuticals in a report on Saturday, April 13th. They set a “hold” rating on the stock.

Hedge Funds Weigh In On Pieris Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of PIRS. Tower Research Capital LLC TRC boosted its holdings in shares of Pieris Pharmaceuticals by 9,665.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 21,581 shares of the biotechnology company’s stock worth $25,000 after buying an additional 21,360 shares in the last quarter. Raymond James & Associates raised its position in shares of Pieris Pharmaceuticals by 50.0% during the fourth quarter. Raymond James & Associates now owns 30,000 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 10,000 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Pieris Pharmaceuticals in the 1st quarter worth $32,000. Mirabella Financial Services LLP bought a new position in shares of Pieris Pharmaceuticals in the 1st quarter worth $39,000. Finally, Two Sigma Investments LP bought a new position in shares of Pieris Pharmaceuticals in the 3rd quarter worth $43,000. 40.11% of the stock is currently owned by institutional investors.

About Pieris Pharmaceuticals

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.