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

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS)’s stock is 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 Stock Down 6.6 %

NASDAQ PIRS traded down $0.01 during trading hours on Friday, hitting $0.15. The company’s stock had a trading volume of 1,919,826 shares, compared to its average volume of 580,219. The stock has a fifty day moving average of $0.17 and a 200 day moving average of $0.20. Pieris Pharmaceuticals has a twelve month low of $0.14 and a twelve month high of $1.01. The firm has a market capitalization of $14.34 million, a P/E ratio of -0.52 and a beta of 0.48.

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

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Pieris Pharmaceuticals in a report on Saturday, April 13th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On Pieris Pharmaceuticals

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

Pieris Pharmaceuticals Company Profile

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.