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

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 closing bell on Tuesday, April 23rd.

Pieris Pharmaceuticals Trading Down 6.6 %

Shares of PIRS traded down $0.01 during mid-day trading on Friday, reaching $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 market cap of $14.34 million, a PE ratio of -0.53 and a beta of 0.48. Pieris Pharmaceuticals has a 52 week low of $0.14 and a 52 week high of $1.01. The company’s fifty day moving average price is $0.17 and its two-hundred day moving average price is $0.20.

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. The business had revenue of $1.30 million during the quarter. Pieris Pharmaceuticals had a negative return on equity of 90.17% and a negative net margin of 57.33%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PIRS. JPMorgan Chase & Co. increased its stake in shares of Pieris Pharmaceuticals by 149.9% in the first quarter. JPMorgan Chase & Co. now owns 63,643 shares of the biotechnology company’s stock worth $193,000 after buying an additional 38,179 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Pieris Pharmaceuticals in the first quarter worth $32,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Pieris Pharmaceuticals in the first quarter worth $1,263,000. BlackRock Inc. increased its stake 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. Finally, Blair William & Co. IL increased its stake in shares of Pieris Pharmaceuticals by 9.1% in the first quarter. Blair William & Co. IL now owns 128,745 shares of the biotechnology company’s stock worth $390,000 after buying an additional 10,760 shares during the period. 40.11% of the stock is owned by hedge funds and other institutional investors.

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.