ProQR Therapeutics N.V. (NASDAQ:PRQR) Sees Significant Increase in Short Interest

Key Points

• ProQR Therapeutics N.V. experienced a **53.6% increase** in short interest from mid-August to the end of August, rising to **549,700 shares** shorted, with a days-to-cover ratio of **1.8 days**.
• The company's recent quarterly earnings report showed a loss of **($0.14) per share**, missing the consensus estimate, and revenue of **$4.33 million**, below expectations of **$5.01 million**.
• Analyst ratings for ProQR Therapeutics are generally positive, with a **consensus rating of "Buy"** and an average target price of **$8.00** per share.

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 549,700 shares, a growth of 53.6% from the August 15th total of 357,900 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 313,200 shares, the days-to-cover ratio is presently 1.8 days. Based on an average trading volume of 313,200 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.6% of the shares of the company are short sold.

ProQR Therapeutics Trading Down 8.4%

NASDAQ:PRQR traded down $0.19 during midday trading on Monday, hitting $2.01. 269,926 shares of the company traded hands, compared to its average volume of 416,491. The firm's fifty day moving average is $2.21 and its 200-day moving average is $1.86. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The firm has a market capitalization of $210.95 million, a P/E ratio of -4.36 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $4.33 million for the quarter, compared to analysts' expectations of $5.01 million. On average, research analysts expect that ProQR Therapeutics will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PRQR has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $8.00 target price on shares of ProQR Therapeutics in a report on Friday, June 27th. Chardan Capital reissued a "buy" rating and issued a $4.00 target price on shares of ProQR Therapeutics in a report on Friday, August 8th. JMP Securities reissued a "market outperform" rating and issued a $8.00 target price on shares of ProQR Therapeutics in a report on Friday, June 27th. Finally, Evercore ISI reissued an "outperform" rating on shares of ProQR Therapeutics in a report on Friday, July 11th. One research 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.

Institutional Trading of ProQR Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in ProQR Therapeutics by 2,550.1% during the 4th quarter. Northern Trust Corp now owns 417,398 shares of the biopharmaceutical company's stock valued at $1,106,000 after buying an additional 401,648 shares during the period. OneDigital Investment Advisors LLC increased its stake 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 purchasing an additional 12,500 shares during the period. Affinity Asset Advisors LLC increased its stake 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 purchasing an additional 459,512 shares during the period. Millennium Management LLC increased its stake 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 purchasing an additional 2,683,351 shares during the period. Finally, Woodline Partners LP purchased a new stake in ProQR Therapeutics in the fourth quarter worth $9,426,000. Hedge funds and other institutional investors own 32.65% of the company's stock.

ProQR Therapeutics Company 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).

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.