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

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)’s stock is scheduled 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 Price Performance

Shares of NASDAQ:PIRS 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 stock has a market cap of $14.34 million, a price-to-earnings ratio of -0.52 and a beta of 0.48. Pieris Pharmaceuticals has a one year low of $0.14 and a one year high of $1.01. The company has a fifty day simple moving average of $0.17 and a two-hundred day simple moving average of $0.20.

Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its quarterly earnings data on Friday, March 29th. The biotechnology company reported ($0.05) earnings per share (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 Ratings Changes

Separately, StockNews.com initiated coverage on Pieris Pharmaceuticals in a research note on Saturday, April 13th. They issued a “hold” rating for the company.

Institutional Investors Weigh In On Pieris Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in shares of Pieris Pharmaceuticals by 589.3% in the fourth quarter. Bank of America Corp DE now owns 3,665,668 shares of the biotechnology company’s stock worth $3,812,000 after buying an additional 3,133,838 shares during the period. BlackRock Inc. raised its holdings in shares of Pieris Pharmaceuticals by 1.6% in the first quarter. BlackRock Inc. now owns 1,338,437 shares of the biotechnology company’s stock worth $4,055,000 after buying an additional 21,150 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 64.8% in the third quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock worth $286,000 after buying an additional 378,339 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Pieris Pharmaceuticals by 26.0% in the third quarter. Renaissance Technologies LLC now owns 731,100 shares of the biotechnology company’s stock worth $841,000 after buying an additional 151,009 shares during the period. Finally, CM Management LLC raised its holdings in shares of Pieris Pharmaceuticals by 18.1% in the third quarter. CM Management LLC now owns 649,400 shares of the biotechnology company’s stock worth $194,000 after buying an additional 99,400 shares during the period. 40.11% of the stock is currently owned by hedge funds and other 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.