BVF Inc. IL lessened its holdings in Pieris Pharmaceuticals Inc (NASDAQ:PIRS) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,623,562 shares of the biotechnology company’s stock after selling 363,000 shares during the quarter. Pieris Pharmaceuticals accounts for approximately 2.4% of BVF Inc. IL’s holdings, making the stock its 15th biggest holding. BVF Inc. IL owned approximately 5.86% of Pieris Pharmaceuticals worth $19,808,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Cetera Advisor Networks LLC bought a new stake in Pieris Pharmaceuticals in the 4th quarter valued at $124,000. Wells Fargo & Company MN bought a new stake in Pieris Pharmaceuticals in the 3rd quarter valued at $105,000. Bank of Montreal Can bought a new stake in Pieris Pharmaceuticals in the 4th quarter valued at $144,000. Voya Investment Management LLC bought a new stake in Pieris Pharmaceuticals in the 2nd quarter valued at $100,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Pieris Pharmaceuticals by 1,106.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,785 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 29,150 shares during the period. 43.99% of the stock is currently owned by hedge funds and other institutional investors.
In other Pieris Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 7,897 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $8.98, for a total transaction of $70,915.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.05% of the stock is owned by corporate insiders.
Shares of PIRS traded down $0.34 during trading hours on Monday, hitting $6.48. The stock had a trading volume of 464,446 shares, compared to its average volume of 911,952. Pieris Pharmaceuticals Inc has a 52 week low of $2.26 and a 52 week high of $9.75. The firm has a market cap of $367.29, a price-to-earnings ratio of -16.20 and a beta of 1.71.
Pieris Pharmaceuticals (NASDAQ:PIRS) last posted its earnings results on Friday, March 9th. The biotechnology company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.21. Pieris Pharmaceuticals had a negative net margin of 69.82% and a negative return on equity of 162.54%. The business had revenue of $18.15 million for the quarter, compared to analyst estimates of $7.63 million. sell-side analysts predict that Pieris Pharmaceuticals Inc will post -0.53 EPS for the current fiscal year.
PIRS has been the topic of several analyst reports. HC Wainwright boosted their price target on shares of Pieris Pharmaceuticals from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. BidaskClub lowered shares of Pieris Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 17th. William Blair started coverage on shares of Pieris Pharmaceuticals in a report on Wednesday, January 17th. They issued an “outperform” rating on the stock. ValuEngine raised shares of Pieris Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Evercore ISI started coverage on shares of Pieris Pharmaceuticals in a report on Monday, March 19th. They issued an “outperform” rating and a $13.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Pieris Pharmaceuticals presently has an average rating of “Buy” and an average target price of $11.00.
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About Pieris Pharmaceuticals
Pieris Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company’s pipeline includes immuno-oncology multi-specifics tailored for the tumor micro-environment, an inhaled Anticalin to treat uncontrolled asthma and a half-life-optimized Anticalin to treat anemia. Its Anticalins proteins are a class of low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins typically found in blood plasma and other bodily fluids.
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