Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) Short Interest Down 20.6% in June

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 13,500 shares, a decrease of 20.6% from the May 31st total of 17,000 shares. Based on an average daily volume of 12,600 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.1% of the shares of the company are short sold.

Pieris Pharmaceuticals Stock Performance

Shares of NASDAQ PIRS traded up $0.33 during trading hours on Friday, reaching $9.81. The stock had a trading volume of 46,202 shares, compared to its average volume of 6,788. The business’s fifty day moving average is $10.50 and its two-hundred day moving average is $12.62. Pieris Pharmaceuticals has a twelve month low of $8.31 and a twelve month high of $41.78.

Pieris Pharmaceuticals (NASDAQ:PIRS) last announced its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($3.95) earnings per share for the quarter. Pieris Pharmaceuticals had a negative net margin of 39.71% and a negative return on equity of 57.57%. The company had revenue of $0.05 million during the quarter.

Institutional Trading of Pieris Pharmaceuticals

A hedge fund recently raised its stake in Pieris Pharmaceuticals stock. Acadian Asset Management LLC lifted its holdings in shares of Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) by 64.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 962,358 shares of the biotechnology company’s stock after purchasing an additional 378,339 shares during the period. Acadian Asset Management LLC owned 0.97% of Pieris Pharmaceuticals worth $286,000 at the end of the most recent reporting period. 40.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Pieris Pharmaceuticals in a research note on Wednesday. They issued a “hold” rating for the company.

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.