ProQR Therapeutics (NASDAQ:PRQR) Sees Large Increase in Short Interest

ProQR Therapeutics (NASDAQ:PRQR) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 677,600 shares, a growth of 408.3% from the October 15th total of 133,300 shares. Based on an average daily trading volume, of 1,300,000 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On ProQR Therapeutics

A number of hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in ProQR Therapeutics in the first quarter valued at approximately $26,000. Acadian Asset Management LLC bought a new stake in shares of ProQR Therapeutics during the first quarter valued at approximately $56,000. BNP Paribas Financial Markets raised its holdings in shares of ProQR Therapeutics by 120.1% during the first quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after buying an additional 19,100 shares during the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of ProQR Therapeutics by 37.0% during the third quarter. OneDigital Investment Advisors LLC now owns 57,550 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 15,550 shares during the last quarter. Finally, Ikarian Capital LLC raised its holdings in shares of ProQR Therapeutics by 2.3% during the first quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock valued at $1,098,000 after buying an additional 10,958 shares during the last quarter. 32.65% of the stock is currently owned by institutional investors and hedge funds.

ProQR Therapeutics Stock Up 0.5 %

Shares of PRQR stock traded up $0.02 during mid-day trading on Tuesday, hitting $3.98. 513,451 shares of the company’s stock were exchanged, compared to its average volume of 522,296. ProQR Therapeutics has a fifty-two week low of $1.18 and a fifty-two week high of $4.62. The stock has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $2.12. The stock has a market cap of $325.09 million, a price-to-earnings ratio of -12.38 and a beta of 0.26.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HC Wainwright boosted their price target on ProQR Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James raised ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $6.00 to $14.00 in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $7.13.

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).