ProQR Therapeutics (NASDAQ:PRQR) Shares Cross Above 50 Day Moving Average – Should You Sell?

by · The Cerbat Gem

ProQR Therapeutics N.V. (NASDAQ:PRQR – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.92 and traded as high as $2.11. ProQR Therapeutics shares last traded at $2.05, with a volume of 449,152 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on PRQR. Chardan Capital lowered their price objective on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. JonesTrading cut their target price on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Weiss Ratings raised ProQR Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of ProQR Therapeutics in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 15th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ProQR Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Read Our Latest Report on ProQR Therapeutics

ProQR Therapeutics Stock Performance

The company has a market capitalization of $215.99 million, a P/E ratio of -4.46 and a beta of 0.06. The business’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.74.

ProQR Therapeutics (NASDAQ:PRQR – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.04. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $4.56 million. As a group, analysts forecast that ProQR Therapeutics N.V. will post -0.45 EPS for the current year.

Insider Activity

In other news, CEO Daniel de Boer purchased 150,000 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the acquisition, the chief executive officer directly owned 300,000 shares of the company’s stock, valued at $522,000. This represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bart Filius purchased 150,000 shares of the business’s stock in a transaction on Friday, July 17th. The shares were purchased at an average price of $1.72 per share, with a total value of $258,000.00. Following the acquisition, the director directly owned 300,000 shares in the company, valued at $516,000. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 600,000 shares of company stock worth $988,500 over the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Trading of ProQR Therapeutics

Hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in shares of ProQR Therapeutics by 59.6% during the 2nd quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 4,500 shares during the last quarter. Persistent Asset Partners Ltd increased its position in ProQR Therapeutics by 24.5% in the fourth quarter. Persistent Asset Partners Ltd now owns 45,154 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 8,874 shares during the last quarter. Diadema Partners LP raised its stake in ProQR Therapeutics by 6.2% during the fourth quarter. Diadema Partners LP now owns 167,532 shares of the biopharmaceutical company’s stock valued at $338,000 after purchasing an additional 9,838 shares in the last quarter. Bank of America Corp DE raised its stake in ProQR Therapeutics by 6.4% during the first quarter. Bank of America Corp DE now owns 185,110 shares of the biopharmaceutical company’s stock valued at $300,000 after purchasing an additional 11,186 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in ProQR Therapeutics by 15.2% during the third quarter. Raymond James Financial Inc. now owns 110,270 shares of the biopharmaceutical company’s stock valued at $235,000 after purchasing an additional 14,549 shares during the last quarter. 32.65% of the stock is owned by hedge funds and other institutional investors.

ProQR Therapeutics Company Profile

(Get Free Report)

ProQR Therapeutics N.V. is a clinical-stage biotechnology company dedicated to developing RNA-based therapies for severe genetic diseases. Utilizing its proprietary Axiomer® RNA editing platform, ProQR aims to correct disease-causing mutations directly at the messenger RNA level. The company’s pipeline features several investigational candidates, including sepofarsen (formerly QR-110) for Leber congenital amaurosis type 10, QR-421a targeting Usher syndrome and certain forms of retinitis pigmentosa, and QR-313 for dystrophic epidermolysis bullosa.

Founded in 2012 and headquartered in Leiden, the Netherlands, ProQR maintains a significant presence in Cambridge, Massachusetts, to support its clinical research and regulatory initiatives.

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