ProQR Therapeutics (NASDAQ:PRQR) Share Price Crosses Above 50-Day Moving Average - What's Next?

Key Points

• ProQR shares rose above their 50-day moving average, reaching $2.35 and last trading at $2.32, compared with a 50-day average of $1.87.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy, with a consensus rating of Moderate Buy and an average price target of $7.50. Bank of America initiated coverage with a Buy rating and an $8 target.
• ProQR reported better-than-expected quarterly results, losing $0.09 per share versus the $0.13 consensus loss and generating $10 million in revenue versus $4.56 million expected. Insiders also purchased 600,000 shares worth $988,500 over the past 90 days.

Shares of ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.87 and traded as high as $2.35. ProQR Therapeutics shares last traded at $2.32, with a volume of 1,286,791 shares trading hands.

Analyst Ratings Changes

Several research firms recently weighed in on PRQR. Bank of America initiated coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They issued a "buy" rating and a $8.00 target price for the company. HC Wainwright reissued a "buy" rating on shares of ProQR Therapeutics in a research report on Monday, August 17th. Wall Street Zen raised shares of ProQR Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 15th. JonesTrading reduced their target price on shares of ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Finally, Citigroup reiterated a "market outperform" rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ProQR Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

ProQR Therapeutics Price Performance

The stock has a market cap of $244.44 million, a P/E ratio of -5.04 and a beta of 0.07. The stock's 50-day moving average is $1.87 and its two-hundred day moving average is $1.70.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $10.00 million during the quarter, compared to analysts' expectations of $4.56 million. ProQR Therapeutics had a negative return on equity of 73.83% and a negative net margin of 223.51%. On average, analysts anticipate that ProQR Therapeutics N.V. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at ProQR Therapeutics

In related news, Director Bart Filius acquired 150,000 shares of the stock in a transaction on Friday, July 17th. The shares were acquired at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the transaction, the director owned 300,000 shares in the company, valued at approximately $516,000. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Boer Daniel Anton De purchased 150,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $261,000.00. Following the transaction, the chief executive officer owned 300,000 shares in the company, valued at approximately $522,000. The trade was a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 600,000 shares of company stock worth $988,500 over the last ninety days. Corporate insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On ProQR Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PRQR. Osaic Holdings Inc. grew its holdings in shares of ProQR Therapeutics by 59.6% during the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 4,500 shares during the last quarter. Guggenheim Capital LLC acquired a new stake in shares of ProQR Therapeutics in the fourth quarter valued at approximately $35,000. Invesco Ltd. purchased a new position in shares of ProQR Therapeutics during the fourth quarter worth approximately $51,000. Axiom Investment Management LLC purchased a new position in shares of ProQR Therapeutics during the first quarter worth approximately $53,000. Finally, Simplex Trading LLC increased its holdings in shares of ProQR Therapeutics by 44,169.0% in the 4th quarter. Simplex Trading LLC now owns 44,269 shares of the biopharmaceutical company's stock valued at $89,000 after acquiring an additional 44,169 shares during the period. 32.65% of the stock is owned by hedge funds and other institutional investors.

About ProQR Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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