ProQR Therapeutics (NASDAQ:PRQR) Sees Significant Growth in Short Interest

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

ProQR Therapeutics Trading Down 0.5 %

PRQR stock traded down $0.02 during trading on Wednesday, reaching $3.96. 1,297,920 shares of the stock were exchanged, compared to its average volume of 525,825. ProQR Therapeutics has a 1 year low of $1.18 and a 1 year high of $4.62. The business has a 50 day moving average price of $2.59 and a 200-day moving average price of $2.13. The firm has a market capitalization of $323.45 million, a price-to-earnings ratio of -12.38 and a beta of 0.26.

Institutional Investors Weigh In On ProQR Therapeutics

Large investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new position in shares of ProQR Therapeutics in the 1st quarter valued at $26,000. Acadian Asset Management LLC purchased a new position in ProQR Therapeutics during the first quarter worth $56,000. BNP Paribas Financial Markets raised its holdings in ProQR Therapeutics by 120.1% in the 1st quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock valued at $80,000 after acquiring an additional 19,100 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in ProQR Therapeutics by 37.0% in the 3rd 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 period. Finally, Ikarian Capital LLC raised its position in shares of ProQR Therapeutics by 2.3% in the 1st quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock worth $1,098,000 after buying an additional 10,958 shares during the period. Hedge funds and other institutional investors own 32.65% of the company’s stock.

Wall Street Analyst Weigh In

PRQR has been the topic of a number of recent analyst reports. Raymond James raised shares of ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $6.00 to $14.00 in a report on Tuesday, October 29th. HC Wainwright lifted their price target on shares of ProQR Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ProQR Therapeutics currently has a consensus rating of “Buy” and an average target price 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).