Woodline Partners LP Invests $9.43 Million in ProQR Therapeutics (NASDAQ:PRQR)

Woodline Partners LP purchased a new position in ProQR Therapeutics (NASDAQ:PRQR - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,557,001 shares of the biopharmaceutical company's stock, valued at approximately $9,426,000. Woodline Partners LP owned 4.35% of ProQR Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PRQR. Adage Capital Partners GP L.L.C. grew its stake in shares of ProQR Therapeutics by 164.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 9,602,280 shares of the biopharmaceutical company's stock worth $25,446,000 after purchasing an additional 5,976,813 shares during the period. Affinity Asset Advisors LLC purchased a new position in shares of ProQR Therapeutics during the 4th quarter worth $7,486,000. Millennium Management LLC raised its holdings in shares of ProQR Therapeutics by 1,864.4% during the 4th 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 during the period. Platinum Investment Management Ltd. acquired a new stake in shares of ProQR Therapeutics during the 4th quarter worth about $4,076,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of ProQR Therapeutics during the 4th quarter worth about $3,952,000. Institutional investors and hedge funds own 32.65% of the company's stock.

ProQR Therapeutics Price Performance

ProQR Therapeutics stock traded up $0.09 during midday trading on Wednesday, hitting $1.79. 293,828 shares of the company were exchanged, compared to its average volume of 491,749. The company's fifty day moving average price is $1.46 and its 200-day moving average price is $2.24. The company has a market cap of $187.81 million, a PE ratio of -5.58 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.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $4.89 million for the quarter, compared to analyst estimates 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, analysts expect that ProQR Therapeutics will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRQR shares. HC Wainwright lifted their target price on ProQR Therapeutics from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Oppenheimer reduced their price objective 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. Citigroup raised ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 target price on the stock in a report on Monday, March 10th. Cantor Fitzgerald started coverage on ProQR Therapeutics in a report on Tuesday, April 29th. They set an "overweight" rating and a $8.00 price objective on the stock. Finally, Evercore ISI began coverage on ProQR Therapeutics in a research report on Tuesday, April 29th. They issued an "outperform" rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics 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).