M28 Capital Management LP Grows Stake in ProQR Therapeutics (NASDAQ:PRQR)

M28 Capital Management LP grew its stake in ProQR Therapeutics (NASDAQ:PRQR – Get Rating) by 90.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,910,600 shares of the biopharmaceutical company’s stock after acquiring an additional 908,800 shares during the quarter. ProQR Therapeutics accounts for 6.7% of M28 Capital Management LP’s portfolio, making the stock its 4th biggest holding. M28 Capital Management LP owned about 2.68% of ProQR Therapeutics worth $7,069,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PRQR. Raymond James & Associates purchased a new stake in shares of ProQR Therapeutics during the third quarter worth about $38,000. Virtu Financial LLC purchased a new position in shares of ProQR Therapeutics in the 2nd quarter valued at $48,000. Vanguard Personalized Indexing Management LLC purchased a new position in ProQR Therapeutics during the 4th quarter worth $79,000. Jane Street Group LLC grew its stake in ProQR Therapeutics by 550.4% during the 2nd quarter. Jane Street Group LLC now owns 147,558 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 124,869 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in ProQR Therapeutics by 210.0% during the 3rd quarter. Two Sigma Advisers LP now owns 173,300 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 117,400 shares during the period. Institutional investors own 29.79% of the company’s stock.

ProQR Therapeutics Stock Performance

PRQR traded up $0.04 during trading on Friday, hitting $1.71. The stock had a trading volume of 390,914 shares, compared to its average volume of 975,671. The company has a 50 day simple moving average of $2.35 and a 200-day simple moving average of $2.41. ProQR Therapeutics has a 12 month low of $0.59 and a 12 month high of $3.85. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 0.07. The firm has a market cap of $137.80 million, a PE ratio of -2.03 and a beta of 0.05.

ProQR Therapeutics (NASDAQ:PRQR – Get Rating) last issued its earnings results on Wednesday, March 29th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. The business had revenue of $0.84 million for the quarter, compared to analyst estimates of $1.00 million. ProQR Therapeutics had a negative net margin of 1,707.31% and a negative return on equity of 84.97%. Analysts expect that ProQR Therapeutics will post -0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Cantor Fitzgerald cut their price objective on ProQR Therapeutics from $5.00 to $4.50 in a research note on Wednesday, May 17th. Citigroup decreased their target price on shares of ProQR Therapeutics from $3.00 to $2.25 in a research note on Friday, April 7th. JMP Securities upgraded shares of ProQR Therapeutics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1.50 to $5.00 in a research report on Thursday, March 30th. HC Wainwright lifted their target price on shares of ProQR Therapeutics from $1.50 to $5.00 and gave the stock a “buy” rating in a research note on Thursday, March 30th. Finally, StockNews.com raised shares of ProQR Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.35.

ProQR Therapeutics Company Profile

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ProQR Therapeutics NV is a clinical stage biopharmaceutical company. It is engaged in the discovery and development of RNA therapies for the treatment of severe genetic rare diseases with a focus on inherited retinal diseases, such as Leber congenital amaurosis 10, Usher syndrome type 2, and autosomal dominant retinitis pigmentosa.