ProQR Therapeutics N.V. $PRQR Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in ProQR Therapeutics by 15.6%, selling over 1.5 million shares, and now holds approximately 7.70% of the company.
• In contrast, Northern Trust Corp significantly increased its holdings in ProQR by 2,550.1%, now owning over 417,000 shares.
• ProQR Therapeutics reported a net income of ($0.14) per share for the quarter, falling short of analysts' expectations, alongside a negative net margin of 238.52%.

Adage Capital Partners GP L.L.C. lessened its holdings in ProQR Therapeutics N.V. (NASDAQ:PRQR - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,102,098 shares of the biopharmaceutical company's stock after selling 1,500,182 shares during the quarter. Adage Capital Partners GP L.L.C. owned 7.70% of ProQR Therapeutics worth $10,776,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in ProQR Therapeutics by 2,550.1% in the fourth quarter. Northern Trust Corp now owns 417,398 shares of the biopharmaceutical company's stock worth $1,106,000 after acquiring an additional 401,648 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in ProQR Therapeutics by 45.5% in the first quarter. OneDigital Investment Advisors LLC now owns 40,000 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 12,500 shares in the last quarter. Millennium Management LLC boosted 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 acquiring an additional 2,683,351 shares in the last quarter. Affinity Asset Advisors LLC boosted its holdings in ProQR Therapeutics by 16.3% in the first quarter. Affinity Asset Advisors LLC now owns 3,284,512 shares of the biopharmaceutical company's stock worth $4,368,000 after acquiring an additional 459,512 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in ProQR Therapeutics during the 4th quarter valued at about $9,426,000. Institutional investors and hedge funds own 32.65% of the company's stock.

ProQR Therapeutics Stock Performance

PRQR opened at $2.45 on Friday. ProQR Therapeutics N.V. has a fifty-two week low of $1.07 and a fifty-two week high of $4.62. The company has a fifty day moving average of $2.19 and a two-hundred day moving average of $1.87. The stock has a market capitalization of $257.77 million, a price-to-earnings ratio of -5.33 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). ProQR Therapeutics had a negative net margin of 238.52% and a negative return on equity of 61.25%. The firm had revenue of $4.33 million during the quarter, compared to analysts' expectations of $5.01 million. On average, equities research analysts forecast that ProQR Therapeutics N.V. will post -0.31 earnings per share for the current year.

Analyst Ratings Changes

PRQR has been the topic of several research analyst reports. Chardan Capital reiterated a "buy" rating and set a $4.00 price target on shares of ProQR Therapeutics in a research note on Friday, August 8th. Oppenheimer dropped their price target on ProQR Therapeutics from $15.00 to $9.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Evercore ISI reaffirmed an "outperform" rating on shares of ProQR Therapeutics in a research report on Friday, July 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $8.00 price target on shares of ProQR Therapeutics in a research report on Friday, June 27th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $8.00 price target on shares of ProQR Therapeutics in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $8.00.

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).

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