Millennium Management LLC Grows Stock Position in ProQR Therapeutics (NASDAQ:PRQR)

Millennium Management LLC lifted its stake in shares of ProQR Therapeutics (NASDAQ:PRQR - Free Report) by 1,864.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,827,280 shares of the biopharmaceutical company's stock after acquiring an additional 2,683,351 shares during the quarter. Millennium Management LLC owned approximately 3.46% of ProQR Therapeutics worth $7,492,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Affinity Asset Advisors LLC bought a new position in shares of ProQR Therapeutics during the 4th quarter valued at approximately $7,486,000. M&T Bank Corp bought a new position in shares of ProQR Therapeutics during the 4th quarter valued at approximately $330,000. ArrowMark Colorado Holdings LLC bought a new position in shares of ProQR Therapeutics during the 4th quarter valued at approximately $3,131,000. XTX Topco Ltd bought a new position in ProQR Therapeutics in the 4th quarter worth approximately $163,000. Finally, Altium Capital Management LLC bought a new position in ProQR Therapeutics in the 4th quarter worth approximately $1,524,000. 32.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRQR. Citigroup upgraded ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 price target for the company in a research note on Monday, March 10th. HC Wainwright upped their price target on ProQR Therapeutics from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Oppenheimer dropped their price target on ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Evercore ISI began coverage on ProQR Therapeutics in a research note on Tuesday, April 29th. They issued an "outperform" rating and a $5.00 price target for the company. Finally, Cantor Fitzgerald began coverage on ProQR Therapeutics in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ProQR Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics Stock Performance

Shares of PRQR traded down $0.06 during mid-day trading on Friday, hitting $1.68. 271,509 shares of the stock were exchanged, compared to its average volume of 636,461. The company has a market cap of $176.76 million, a PE ratio of -5.25 and a beta of 0.35. ProQR Therapeutics has a 52-week low of $1.07 and a 52-week high of $4.62. The firm has a 50-day moving average of $1.47 and a two-hundred day moving average of $2.19.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $4.89 million for the quarter, compared to analysts' expectations of $4.90 million. ProQR Therapeutics had a negative return on equity of 71.58% and a negative net margin of 134.31%. On average, sell-side analysts predict that ProQR Therapeutics will post -0.31 EPS for the current year.

ProQR Therapeutics Company Profile

ProQR Therapeutics N.V., a biotechnology company, focuses on the discovery and development of novel therapeutic medicines. The company's products pipeline includes AX-0810 for cholestatic diseases targeting Na-taurocholate cotransporting polypeptide (NTCP); and AX-1412 for cardiovascular diseases (CVDs) targeting Beta-1,4-galactosyltransferase 1 (B4GALT1).