Spark Investment Management LLC Reduces Holdings in Pieris Pharmaceuticals Inc (PIRS)

Spark Investment Management LLC reduced its position in Pieris Pharmaceuticals Inc (NASDAQ:PIRS) by 18.8% in the 1st quarter, HoldingsChannel reports. The fund owned 292,500 shares of the biotechnology company’s stock after selling 67,843 shares during the quarter. Spark Investment Management LLC’s holdings in Pieris Pharmaceuticals were worth $979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PIRS. SG Americas Securities LLC acquired a new position in Pieris Pharmaceuticals in the 4th quarter valued at about $36,000. BNP Paribas Arbitrage SA acquired a new position in shares of Pieris Pharmaceuticals during the first quarter worth about $36,000. Prudential Financial Inc. acquired a new position in shares of Pieris Pharmaceuticals during the fourth quarter worth about $43,000. Alambic Investment Management L.P. acquired a new position in Pieris Pharmaceuticals in the fourth quarter valued at approximately $59,000. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Pieris Pharmaceuticals by 107.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 49,904 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 25,794 shares in the last quarter. 69.76% of the stock is owned by institutional investors.

Shares of NASDAQ PIRS opened at $3.67 on Wednesday. Pieris Pharmaceuticals Inc has a twelve month low of $2.39 and a twelve month high of $6.55. The company has a market capitalization of $183.33 million, a price-to-earnings ratio of -7.34 and a beta of 1.78.

Pieris Pharmaceuticals (NASDAQ:PIRS) last issued its quarterly earnings data on Monday, March 18th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). Pieris Pharmaceuticals had a negative net margin of 84.75% and a negative return on equity of 64.64%. The firm had revenue of $4.91 million during the quarter, compared to analysts’ expectations of $6.92 million. As a group, equities research analysts expect that Pieris Pharmaceuticals Inc will post -0.86 EPS for the current year.

PIRS has been the subject of a number of research analyst reports. ValuEngine downgraded Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Zacks Investment Research cut Pieris Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Pieris Pharmaceuticals in a research note on Tuesday, March 19th. Cowen reiterated a “buy” rating on shares of Pieris Pharmaceuticals in a research note on Monday, May 13th. Finally, Robert W. Baird assumed coverage on Pieris Pharmaceuticals in a research note on Monday, May 13th. They issued an “outperform” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Pieris Pharmaceuticals has an average rating of “Hold” and an average target price of $5.08.

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About Pieris Pharmaceuticals

Pieris Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops anticalin-based drugs in the United States. The company develops anticalin proteins that are low molecular-weight therapeutic proteins derived from lipocalins, which are naturally occurring low-molecular weight human proteins found in blood plasma and other bodily fluids.

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Institutional Ownership by Quarter for Pieris Pharmaceuticals (NASDAQ:PIRS)

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