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

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

Institutional Trading of ProQR Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of ProQR Therapeutics during the 4th quarter worth approximately $30,000. Invesco Ltd. acquired a new stake in ProQR Therapeutics in the fourth quarter valued at $32,000. Alpine Global Management LLC purchased a new stake in shares of ProQR Therapeutics during the 4th quarter worth $39,000. Two Sigma Securities LLC purchased a new position in shares of ProQR Therapeutics in the 4th quarter valued at about $40,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of ProQR Therapeutics in the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 32.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PRQR shares. HC Wainwright lifted their price target on shares of ProQR Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Citigroup raised ProQR Therapeutics from a “neutral” rating to a “buy” rating and set a $4.00 target price for the company in a report on Monday, March 10th. Chardan Capital reiterated a “buy” rating and issued a $4.00 price objective on shares of ProQR Therapeutics in a research note on Friday, March 14th. Finally, Oppenheimer began coverage on shares of ProQR Therapeutics in a report on Friday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.50.

ProQR Therapeutics Stock Up 18.9 %

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

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).