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

Pieris Pharmaceuticals, Inc. (NASDAQ:PIRS) shares are going to reverse split on the morning of 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 closing bell on Tuesday, April 23rd.

Pieris Pharmaceuticals Stock Performance

Shares of NASDAQ:PIRS traded down $0.01 during midday trading on Friday, hitting $0.15. 1,919,826 shares of the stock were exchanged, compared to its average volume of 580,219. The stock has a market capitalization of $14.34 million, a price-to-earnings ratio of -0.52 and a beta of 0.48. The business’s 50-day moving average price is $0.17 and its 200 day moving average price is $0.20. Pieris Pharmaceuticals has a 12 month low of $0.14 and a 12 month high of $1.01.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Pieris Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp lifted its stake in Pieris Pharmaceuticals by 76.8% in the fourth quarter. Northern Trust Corp now owns 243,592 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 105,783 shares during the period. Acadian Asset Management LLC increased its position in shares of Pieris Pharmaceuticals by 64.8% during the 3rd quarter. Acadian Asset Management LLC now owns 962,358 shares of the biotechnology company’s stock valued at $286,000 after purchasing an additional 378,339 shares during the last quarter. CM Management LLC increased its holdings in Pieris Pharmaceuticals by 18.1% in the 3rd 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in Pieris Pharmaceuticals by 437.2% in the 1st quarter. JPMorgan Chase & Co. now owns 250,004 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 203,463 shares during the period. Finally, State Street Corp boosted its stake in Pieris Pharmaceuticals by 6.9% in the 1st quarter. State Street Corp now owns 223,829 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 14,500 shares during the period. 40.11% of the stock is owned by institutional investors and hedge funds.

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.