Adage Capital Partners GP L.L.C. Increases Position in ProQR Therapeutics (NASDAQ:PRQR)

Adage Capital Partners GP L.L.C. lifted its stake in ProQR Therapeutics (NASDAQ:PRQR - Free Report) by 164.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,602,280 shares of the biopharmaceutical company's stock after buying an additional 5,976,813 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 11.76% of ProQR Therapeutics worth $25,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in shares of ProQR Therapeutics in the fourth quarter worth $32,000. Prudential Financial Inc. grew its stake in ProQR Therapeutics by 109.1% during the fourth quarter. Prudential Financial Inc. now owns 27,600 shares of the biopharmaceutical company's stock valued at $73,000 after acquiring an additional 14,400 shares in the last quarter. Alpine Global Management LLC bought a new stake in ProQR Therapeutics in the 4th quarter valued at $39,000. ADAR1 Capital Management LLC purchased a new stake in ProQR Therapeutics in the 4th quarter worth $54,000. Finally, Ballentine Partners LLC bought a new position in shares of ProQR Therapeutics during the 4th quarter valued at about $61,000. Institutional investors own 32.65% of the company's stock.

ProQR Therapeutics Stock Performance

NASDAQ:PRQR traded up $0.09 during mid-day trading on Tuesday, hitting $1.63. 1,166,274 shares of the company's stock traded hands, compared to its average volume of 600,246. The company has a fifty day moving average of $1.62 and a 200 day moving average of $2.50. ProQR Therapeutics has a twelve month low of $1.07 and a twelve month high of $4.62. The company has a market capitalization of $171.50 million, a P/E ratio of -5.09 and a beta of 0.25.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRQR. Evercore ISI assumed coverage on ProQR Therapeutics in a report on Tuesday. They issued an "outperform" rating and a $5.00 target price on the stock. Cantor Fitzgerald began coverage on ProQR Therapeutics in a research note on Tuesday. They issued an "overweight" rating and a $8.00 price objective on the stock. Citigroup upgraded ProQR Therapeutics from a "neutral" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Monday, March 10th. HC Wainwright raised their target price on shares of ProQR Therapeutics from $10.00 to $12.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, Oppenheimer started coverage on shares of ProQR Therapeutics in a research note on Friday, January 10th. They set an "outperform" rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ProQR Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.75.

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).