As aggregate interest increased, some big names have jumped into Pieris Pharmaceuticals Inc (NASDAQ:PIRS) headfirst. Jim Simons’ Renaissance Technologies established the most outsized position in Pieris Pharmaceuticals Inc (NASDAQ:PIRS). Renaissance Technologies had $0.1 million invested in the company at the end of the third quarter.
Let’s now review hedge fund activity in other stocks similar to Pieris Pharmaceuticals Inc (NASDAQ:PIRS). These stocks are Rocky Brands, Inc. (NASDAQ:RCKY), Arotech Corporation (NASDAQ:ARTX), North American Energy Partners Inc.(USA) (NYSE:NOA), and Nordic American Offshore Ltd (NYSE:NAO). This group of stocks’ market values match PIRS’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 4 hedge funds with bullish positions and the average amount invested in these stocks was $7 million. That figure was $18 million in PIRS’s case. North American Energy Partners Inc.(USA) (NYSE:NOA) is the most popular stock in this table. On the other hand Arotech Corporation (NASDAQ:ARTX) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Pieris Pharmaceuticals Inc (NASDAQ:PIRS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.