Point72 Asset Management L.P. Takes Position in ProQR Therapeutics (NASDAQ:PRQR)

Point72 Asset Management L.P. acquired a new stake in shares of ProQR Therapeutics (NASDAQ:PRQR - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,491,275 shares of the biopharmaceutical company's stock, valued at approximately $3,952,000. Point72 Asset Management L.P. owned about 1.83% of ProQR Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE grew its position in ProQR Therapeutics by 11.8% during the 4th quarter. Bank of America Corp DE now owns 81,784 shares of the biopharmaceutical company's stock worth $217,000 after acquiring an additional 8,621 shares during the last quarter. Jane Street Group LLC bought a new position in ProQR Therapeutics during the 4th quarter worth approximately $30,000. Invesco Ltd. bought a new position in ProQR Therapeutics during the 4th quarter worth approximately $32,000. Prudential Financial Inc. grew its position in ProQR Therapeutics by 109.1% during the 4th quarter. Prudential Financial Inc. now owns 27,600 shares of the biopharmaceutical company's stock worth $73,000 after acquiring an additional 14,400 shares during the last quarter. Finally, Alpine Global Management LLC bought a new position in ProQR Therapeutics during the 4th quarter worth approximately $39,000. 32.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRQR has been the topic of several recent research reports. Citigroup upgraded ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 price target on the stock in a research report on Monday, March 10th. Cantor Fitzgerald initiated coverage on ProQR Therapeutics in a research report on Tuesday, April 29th. They set an "overweight" rating and a $8.00 price target on the stock. Evercore ISI initiated coverage on ProQR Therapeutics in a research report on Tuesday, April 29th. They set an "outperform" rating and a $5.00 price target on the stock. HC Wainwright raised their price target on ProQR Therapeutics from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Finally, Oppenheimer cut their price objective on ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. One 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 data from MarketBeat.com, ProQR Therapeutics has an average rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics Stock Performance

Shares of PRQR stock opened at $1.71 on Tuesday. The firm has a market cap of $179.91 million, a P/E ratio of -5.34 and a beta of 0.35. ProQR Therapeutics has a fifty-two week low of $1.07 and a fifty-two week high of $4.62. The business's 50 day moving average price is $1.46 and its 200-day moving average price is $2.31.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). The firm had revenue of $4.89 million during the quarter, compared to analysts' expectations of $4.90 million. ProQR Therapeutics had a negative net margin of 134.31% and a negative return on equity of 71.58%. As a group, equities analysts predict that ProQR Therapeutics will post -0.31 EPS for the current year.

About ProQR Therapeutics

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.