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

Key Points

• ProQR Therapeutics shares have crossed above the 50-day moving average of $2.16, with trading activity reaching as high as $2.19.
• The company has received several analyst upgrades, with a consensus price target of $8.00, indicating positive sentiment among analysts.
• ProQR reported a quarterly EPS of ($0.14), missing expectations, and forecasts a cumulative EPS of -0.31 for the current fiscal year.

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.16 and traded as high as $2.19. ProQR Therapeutics shares last traded at $2.13, with a volume of 340,398 shares changing hands.

Analyst Upgrades and Downgrades

PRQR has been the subject of several research analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $8.00 price target on shares of ProQR Therapeutics in a report on Friday, June 27th. Evercore ISI reiterated an "outperform" rating on shares of ProQR Therapeutics in a report on Friday, July 11th. Chardan Capital reiterated a "buy" rating and issued a $4.00 price target on shares of ProQR Therapeutics in a report on Friday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $8.00 price target on shares of ProQR Therapeutics in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $8.00.

ProQR Therapeutics Price Performance

The stock's 50-day moving average price is $2.16 and its 200 day moving average price is $1.87. The firm has a market cap of $224.10 million, a P/E ratio of -4.63 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.06). The business had revenue of $4.33 million during the quarter, compared to the consensus estimate of $5.01 million. ProQR Therapeutics had a negative return on equity of 61.25% and a negative net margin of 238.52%. As a group, analysts forecast that ProQR Therapeutics N.V. will post -0.31 EPS for the current fiscal year.

Institutional Trading of ProQR Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRQR. Osaic Holdings Inc. raised its position in 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 acquiring an additional 4,500 shares in the last quarter. Jane Street Group LLC bought a new stake in ProQR Therapeutics during the fourth quarter worth $30,000. Vontobel Holding Ltd. bought a new stake in ProQR Therapeutics during the first quarter worth $48,000. OneDigital Investment Advisors LLC raised its position in ProQR Therapeutics by 45.5% during the first quarter. OneDigital Investment Advisors LLC now owns 40,000 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 12,500 shares in the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in ProQR Therapeutics during the first quarter worth $64,000. 32.65% of the stock is owned by institutional investors.

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).

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