ProQR Therapeutics N.V. (NASDAQ:PRQR) Short Interest Up 92.5% in July

Key Points

• Short interest surged 92.5% in July to 2.31 million shares, representing approximately 2.4% of ProQR’s outstanding shares and 1.8 days to cover.
• ProQR’s shares opened at $1.73, near their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.15 per share and revenue of $2.35 million, below the $5.19 million analyst estimate.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $7.33. Insiders purchased 600,000 shares worth $988,500 over the past three months.

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,308,954 shares, a growth of 92.5% from the June 30th total of 1,199,214 shares. Based on an average trading volume of 1,317,001 shares, the days-to-cover ratio is currently 1.8 days. Approximately 2.4% of the company's shares are short sold.

ProQR Therapeutics Price Performance

Shares of PRQR opened at $1.73 on Thursday. ProQR Therapeutics has a 1-year low of $1.33 and a 1-year high of $3.10. The stock has a market cap of $182.27 million, a PE ratio of -3.46 and a beta of 0.04. The firm has a fifty day moving average price of $1.66 and a 200 day moving average price of $1.64.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). The firm had revenue of $2.35 million during the quarter, compared to the consensus estimate of $5.19 million. ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. As a group, equities analysts expect that ProQR Therapeutics will post -0.52 EPS for the current fiscal year.

Analyst Ratings Changes

PRQR has been the subject of several recent research reports. Chardan Capital lowered their price objective on shares of ProQR Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, June 26th. JonesTrading cut their target price on shares of ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Weiss Ratings lowered shares of ProQR Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Citigroup reissued a "market outperform" rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. Finally, Wall Street Zen downgraded shares of ProQR Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.33.

Insider Transactions at ProQR Therapeutics

In other ProQR Therapeutics news, Director Bart Filius bought 150,000 shares of ProQR Therapeutics stock in a transaction on Friday, July 17th. The shares were bought at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the completion of the transaction, the director directly owned 300,000 shares of the company's stock, valued at $516,000. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Boer Daniel Anton De acquired 150,000 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average cost of $1.74 per share, with a total value of $261,000.00. Following the completion of the transaction, the chief executive officer directly owned 300,000 shares in the company, valued at approximately $522,000. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 600,000 shares of company stock valued at $988,500 in the last three months. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProQR Therapeutics

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in ProQR Therapeutics by 59.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 4,500 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of ProQR Therapeutics in the fourth quarter valued at about $35,000. Moody Lynn & Lieberson LLC acquired a new stake in shares of ProQR Therapeutics in the fourth quarter valued at approximately $50,000. Invesco Ltd. purchased a new position in shares of ProQR Therapeutics during the 4th quarter worth approximately $51,000. Finally, Axiom Investment Management LLC purchased a new position in shares of ProQR Therapeutics during the 1st quarter worth approximately $53,000. 32.65% of the stock is owned by institutional investors and hedge funds.

About ProQR Therapeutics

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company's pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.

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