Adage Capital Partners GP L.L.C. Increases Stock Position in ProQR Therapeutics (NASDAQ:PRQR)

Adage Capital Partners GP L.L.C. boosted its position in shares of ProQR Therapeutics (NASDAQ:PRQR - Free Report) by 164.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,602,280 shares of the biopharmaceutical company's stock after buying an additional 5,976,813 shares during the period. Adage Capital Partners GP L.L.C. owned 11.76% of ProQR Therapeutics worth $25,446,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Affinity Asset Advisors LLC purchased a new stake in shares of ProQR Therapeutics in the fourth quarter valued at approximately $7,486,000. Platinum Investment Management Ltd. purchased a new position in shares of ProQR Therapeutics during the 4th quarter worth $4,076,000. Altium Capital Management LLC acquired a new stake in shares of ProQR Therapeutics during the 4th quarter worth about $1,524,000. Walleye Capital LLC acquired a new position in ProQR Therapeutics in the fourth quarter valued at about $1,196,000. Finally, Diadema Partners LP purchased a new position in ProQR Therapeutics during the fourth quarter worth about $419,000. 32.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PRQR. Citigroup upgraded ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 price target for the company in a research report on Monday, March 10th. HC Wainwright boosted their price target on shares of ProQR Therapeutics from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, March 14th. Cantor Fitzgerald started coverage on ProQR Therapeutics in a research note on Tuesday. They issued an "overweight" rating and a $8.00 price objective on the stock. Evercore ISI began coverage on ProQR Therapeutics in a report on Tuesday. They set an "outperform" rating and a $5.00 price target on the stock. Finally, Oppenheimer initiated coverage on ProQR Therapeutics in a research report on Friday, January 10th. They set an "outperform" rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.75.

ProQR Therapeutics Stock Up 1.8 %

ProQR Therapeutics stock traded up $0.03 during mid-day trading on Wednesday, hitting $1.66. The company had a trading volume of 328,901 shares, compared to its average volume of 600,374. ProQR Therapeutics has a 1 year low of $1.07 and a 1 year high of $4.62. The business has a fifty day moving average of $1.60 and a 200 day moving average of $2.50. The stock has a market cap of $174.65 million, a price-to-earnings ratio of -5.19 and a beta of 0.25.

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).