ProQR Therapeutics N.V. (NASDAQ:PRQR) Sees Large Growth in Short Interest

ProQR Therapeutics N.V. (NASDAQ:PRQR) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 2,308,954 shares, an increase 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 presently 1.8 days. Currently, 2.4% of the shares of the stock are sold short.

ProQR Therapeutics Price Performance

PRQR opened at $1.73 on Thursday. The stock has a market capitalization of $182.27 million, a price-to-earnings ratio of -3.46 and a beta of 0.04. The business has a 50-day moving average of $1.66 and a two-hundred day moving average of $1.64. ProQR Therapeutics has a 12 month low of $1.33 and a 12 month high of $3.10.

ProQR Therapeutics (NASDAQ:PRQR) last posted its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The company 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%. Equities research analysts anticipate that ProQR Therapeutics will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Boer Daniel Anton De acquired 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of $1.74 per share, with a total value of $261,000.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bart Filius acquired 150,000 shares of the company’s stock in a transaction that occurred on Friday, July 17th. The shares were bought at an average price of $1.72 per share, with a total value of $258,000.00. Following the transaction, the director owned 300,000 shares in the company, valued at $516,000. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 600,000 shares of company stock valued at $988,500. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On ProQR Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aberdeen Group plc boosted its holdings in shares of ProQR Therapeutics by 28.4% in the 4th quarter. Aberdeen Group plc now owns 2,950,676 shares of the biopharmaceutical company’s stock valued at $5,960,000 after purchasing an additional 651,853 shares during the last quarter. Privium Fund Management B.V. grew its stake in shares of ProQR Therapeutics by 7.2% during the 4th quarter. Privium Fund Management B.V. now owns 5,357,762 shares of the biopharmaceutical company’s stock valued at $10,823,000 after buying an additional 359,475 shares during the period. Moody Lynn & Lieberson LLC acquired a new stake in shares of ProQR Therapeutics during the 4th quarter worth $50,000. Bank of America Corp DE increased its holdings in shares of ProQR Therapeutics by 25.7% during the 2nd quarter. Bank of America Corp DE now owns 119,198 shares of the biopharmaceutical company’s stock worth $243,000 after buying an additional 24,347 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of ProQR Therapeutics by 1,057.4% during the 4th quarter. XTX Topco Ltd now owns 117,900 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 107,713 shares during the last quarter. Institutional investors and hedge funds own 32.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings downgraded shares of ProQR Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. JonesTrading reduced their price objective 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. Wall Street Zen lowered shares of ProQR Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Citigroup reaffirmed a “market outperform” rating on shares of ProQR Therapeutics in a research note on Wednesday, May 27th. Finally, Chardan Capital cut their price target on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, June 26th. Four research 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

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.