Pieris Pharmaceuticals: Soars as co's stock draws retail traders' interest

Palvella Therapeutics

26/05/2021 11:09

** Shares of biopharmaceutical company  PIRS.O  jump 40%
premarket to $5.26, on track to open at more than 1-1/2 year
peak
    ** Stock draws the interest of retail traders
    ** On trading-focused social media site Stocktwits, message
volume related to PIRS stock spikes by ~116x, with ~91.8% of
messages reflecting positive sentiment
    ** Co on Tuesday announced a multi-program research
collaboration and license deal with Genentech, a unit of Swiss
drugmaker Roche  ROG.S  urn:newsml:reuters.com:*:nL3N2NC3C4  
    ** Pieris will receive $20 mln as an upfront payment, and
could be eligible to get more than $1.4 bln in additional
milestone payments across multiple programs
    ** PIRS was the fourth most-traded stock among customers on
Fidelity's brokerage platform on Tuesday, when it more than
doubled
    ** Pieris has a market cap of $238.02 mln as of last close,
~38% higher than its market cap a year ago ($172.7 mln)
    ** Of the 3 analysts covering Pieris, 2 rate the stock as a
"strong buy" and one as a "buy"; their median price target is
$7.50
    ** Shares of Pieris up 50.4% for the year through last close

 (Reporting by Aaron Saldanha)
 ((Aaron.Saldanha@thomsonreuters.com; +91 9810644993; Reuters
Messaging: Aaron.Saldanha@thomsonreuters.com@reuters.net))