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

Key Points

• PRQR shares rose above their 50-day moving average, reaching $2.11 before closing at $2.05, compared with a 50-day average of $1.92.
• Analysts maintain a generally positive outlook: six rate the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $7.50.
• ProQR exceeded quarterly expectations, reporting an adjusted loss of $0.09 per share versus the projected $0.13 loss and revenue of $10 million versus the $4.56 million estimate. Company insiders also bought 600,000 shares worth nearly $1 million over the last quarter.

Shares of ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) passed 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 traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PRQR shares. Bank of America began coverage on shares of ProQR Therapeutics in a research note on Thursday, August 20th. They set a "buy" rating and a $8.00 target price for the company. Chardan Capital dropped their price target on ProQR Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, June 26th. Citigroup reaffirmed a "market outperform" rating on shares of ProQR Therapeutics in a report on Wednesday, May 27th. Weiss Ratings upgraded ProQR Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 14th. Finally, JonesTrading lowered their target price on ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $7.50.

ProQR Therapeutics Stock Down 1.0%

The firm has a market capitalization of $215.99 million, a PE ratio of -4.46 and a beta of 0.06. The stock'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 issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $10.00 million for the quarter, compared to analysts' expectations of $4.56 million. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. On average, analysts predict that ProQR Therapeutics N.V. will post -0.45 EPS for the current year.

Insider Buying and Selling at ProQR Therapeutics

In related 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, with a total value of $261,000.00. Following the completion of the acquisition, the chief executive officer owned 300,000 shares of the company's stock, valued at approximately $522,000. This trade represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bart Filius purchased 150,000 shares of ProQR Therapeutics stock in a transaction on Friday, July 17th. The stock was bought at an average price of $1.72 per share, with a total value of $258,000.00. Following the transaction, the director owned 300,000 shares of the company's stock, valued at approximately $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 have purchased 600,000 shares of company stock worth $988,500 over the last quarter. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProQR Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRQR. Osaic Holdings Inc. lifted its holdings in ProQR Therapeutics by 59.6% during the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 4,500 shares in the last quarter. Guggenheim Capital LLC purchased a new stake in shares of ProQR Therapeutics in the fourth quarter worth $35,000. Invesco Ltd. purchased a new stake in shares of ProQR Therapeutics in the fourth quarter worth $51,000. Axiom Investment Management LLC bought a new stake in shares of ProQR Therapeutics during the 1st quarter valued at $53,000. Finally, Simplex Trading LLC raised its position in shares of ProQR Therapeutics by 44,169.0% during the 4th quarter. Simplex Trading LLC now owns 44,269 shares of the biopharmaceutical company's stock valued at $89,000 after purchasing 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.

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