ProQR Therapeutics (NASDAQ:PRQR) Short Interest Update

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 567,400 shares, an increase of 50.9% from the April 30th total of 376,000 shares. Based on an average trading volume of 588,100 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.8% of the company's shares are sold short.

Institutional Investors Weigh In On ProQR Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Affinity Asset Advisors LLC purchased a new stake in ProQR Therapeutics during the fourth quarter valued at approximately $7,486,000. Northern Trust Corp raised its position in ProQR Therapeutics by 2,550.1% during the fourth quarter. Northern Trust Corp now owns 417,398 shares of the biopharmaceutical company's stock valued at $1,106,000 after purchasing an additional 401,648 shares during the period. Millennium Management LLC raised its position in ProQR Therapeutics by 1,864.4% during the fourth quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock valued at $7,492,000 after purchasing an additional 2,683,351 shares during the period. Woodline Partners LP purchased a new stake in ProQR Therapeutics during the fourth quarter valued at approximately $9,426,000. Finally, M&T Bank Corp bought a new position in shares of ProQR Therapeutics during the fourth quarter valued at approximately $330,000. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRQR. 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. Cantor Fitzgerald assumed coverage on ProQR Therapeutics in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $8.00 target price for the company. Citigroup upgraded ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 target price for the company in a research note on Monday, March 10th. Oppenheimer lowered their target price 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. Finally, Evercore ISI initiated coverage on ProQR Therapeutics in a research note on Tuesday, April 29th. They issued an "outperform" rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.00.

ProQR Therapeutics Price Performance

Shares of NASDAQ:PRQR traded down $0.02 during midday trading on Thursday, hitting $1.79. The company had a trading volume of 221,646 shares, compared to its average volume of 636,415. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The company has a market cap of $188.33 million, a price-to-earnings ratio of -5.59 and a beta of 0.35. The company has a fifty day moving average of $1.49 and a two-hundred day moving average of $2.16.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released 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). The business had revenue of $4.89 million during the quarter, compared to the consensus estimate of $4.90 million. ProQR Therapeutics had a negative return on equity of 71.58% and a negative net margin of 134.31%. Research analysts expect that ProQR Therapeutics will post -0.31 earnings per share for the current fiscal 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).