ProQR Therapeutics (NASDAQ:PRQR) Short Interest Update

ProQR Therapeutics (NASDAQ:PRQR) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 843,100 shares, a decline of 17.3% from the March 15th total of 1,020,000 shares. Based on an average daily volume of 476,600 shares, the short-interest ratio is presently 1.8 days. Approximately 1.1% of the shares of the stock are sold short.

ProQR Therapeutics Stock Performance

Shares of PRQR traded up $0.22 during trading hours on Monday, hitting $1.36. The stock had a trading volume of 628,921 shares, compared to its average volume of 587,223. The company’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $2.52. ProQR Therapeutics has a 12-month low of $1.07 and a 12-month high of $4.62. The firm has a market cap of $142.56 million, a P/E ratio of -4.23 and a beta of 0.25.

Wall Street Analyst Weigh In

Several research firms have weighed in on PRQR. Citigroup raised 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. Oppenheimer initiated coverage on shares of ProQR Therapeutics in a research report on Friday, January 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Chardan Capital restated a “buy” rating and set a $4.00 price objective on shares of ProQR Therapeutics in a report on Friday, March 14th. Finally, HC Wainwright upped their target price on ProQR Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Institutional Trading of ProQR Therapeutics

A number of institutional investors have recently modified their holdings of PRQR. Ballentine Partners LLC purchased a new stake in shares of ProQR Therapeutics during the 4th quarter valued at about $61,000. M&T Bank Corp purchased a new stake in ProQR Therapeutics during the 4th quarter worth $330,000. Raymond James Financial Inc. acquired a new position in ProQR Therapeutics in the 4th quarter worth $260,000. PNC Financial Services Group Inc. acquired a new stake in shares of ProQR Therapeutics during the fourth quarter valued at about $77,000. Finally, Platinum Investment Management Ltd. acquired a new position in ProQR Therapeutics in the fourth quarter worth $4,076,000. 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).