Monaco Asset Management SAM Raises Stock Position in ProQR Therapeutics N.V. (NASDAQ:PRQR)

Key Points

• Monaco Asset Management SAM increased its holdings in ProQR Therapeutics by 59.1%, acquiring an additional 175,290 shares, bringing their total to 471,908 shares valued at approximately $628,000.
• Other hedge funds, including Adage Capital Partners and Millennium Management LLC, also significantly increased their stakes in ProQR Therapeutics during the fourth quarter, showcasing increasing institutional interest in the company.
• ProQR Therapeutics reported a loss of ($0.11) EPS in its latest quarterly earnings, falling short of expectations, with anticipated earnings for the year projected at ($0.31) EPS.

Monaco Asset Management SAM increased its stake in shares of ProQR Therapeutics N.V. (NASDAQ:PRQR - Free Report) by 59.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,908 shares of the biopharmaceutical company's stock after purchasing an additional 175,290 shares during the quarter. Monaco Asset Management SAM owned approximately 0.45% of ProQR Therapeutics worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its position in ProQR Therapeutics by 164.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company's stock valued at $25,446,000 after acquiring an additional 5,976,813 shares during the period. Woodline Partners LP acquired a new stake in shares of ProQR Therapeutics during the fourth quarter worth $9,426,000. Affinity Asset Advisors LLC acquired a new stake in ProQR Therapeutics in the fourth quarter worth $7,486,000. Millennium Management LLC grew its holdings in ProQR Therapeutics by 1,864.4% in the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock worth $7,492,000 after purchasing an additional 2,683,351 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in ProQR Therapeutics in the fourth quarter worth $3,952,000. 32.65% of the stock is currently owned by institutional investors and hedge funds.

ProQR Therapeutics Stock Performance

ProQR Therapeutics stock traded down $0.02 during mid-day trading on Friday, hitting $2.08. 139,878 shares of the company traded hands, compared to its average volume of 431,826. The stock has a market cap of $218.84 million, a price-to-earnings ratio of -5.94 and a beta of 0.36. ProQR Therapeutics N.V. has a one year low of $1.07 and a one year high of $4.62. The stock has a fifty day moving average price of $2.04 and a 200-day moving average price of $1.89.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). ProQR Therapeutics had a negative return on equity of 53.49% and a negative net margin of 157.04%. The business had revenue of $4.89 million during the quarter, compared to the consensus estimate of $4.90 million. Sell-side analysts predict that ProQR Therapeutics N.V. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Oppenheimer dropped their price objective on shares of ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. JMP Securities reiterated a "market outperform" rating and issued a $8.00 target price on shares of ProQR Therapeutics in a research note on Friday, June 27th. Evercore ISI reiterated an "outperform" rating on shares of ProQR Therapeutics in a research note on Friday, July 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 price objective on shares of ProQR Therapeutics in a research note on Friday, June 27th. One equities research 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 company. According to MarketBeat.com, ProQR Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $8.00.

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).