ProQR Therapeutics (NASDAQ:PRQR) Stock Passes Above 50-Day Moving Average - Here's Why

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.63 and traded as high as $1.7850. ProQR Therapeutics shares last traded at $1.76, with a volume of 1,168,735 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRQR. JonesTrading cut their price objective on ProQR Therapeutics from $11.00 to $10.00 and set a "buy" rating for the company in a report on Friday, June 26th. Citigroup reiterated a "market outperform" rating on shares of ProQR Therapeutics in a report on Wednesday, May 27th. 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 report on Friday, June 26th. Weiss Ratings downgraded shares of ProQR Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Finally, Wall Street Zen lowered ProQR Therapeutics from a "hold" rating to a "strong sell" rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.33.

ProQR Therapeutics Price Performance

The firm has a market cap of $185.43 million, a price-to-earnings ratio of -3.52 and a beta of 0.04. The firm has a 50 day moving average price of $1.63 and a 200-day moving average price of $1.66.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) EPS for the quarter, hitting the consensus estimate of ($0.15). The company had revenue of $2.35 million during the quarter, compared to analysts' expectations of $5.19 million. ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. On average, sell-side analysts expect that ProQR Therapeutics N.V. will post -0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bart Filius acquired 150,000 shares of the business's stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average cost of $1.54 per share, with a total value of $231,000.00. Following the transaction, the director owned 150,000 shares of the company's stock, valued at $231,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Boer Daniel Anton De bought 150,000 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The stock was 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 $522,000. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 450,000 shares of company stock worth $730,500. Insiders own 8.40% of the company's stock.

Institutional Trading of ProQR Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aberdeen Group plc boosted its position in ProQR Therapeutics by 28.4% during the fourth quarter. Aberdeen Group plc now owns 2,950,676 shares of the biopharmaceutical company's stock worth $5,960,000 after purchasing an additional 651,853 shares during the period. Ikarian Capital LLC increased its position in ProQR Therapeutics by 67.2% during the fourth quarter. Ikarian Capital LLC now owns 1,492,229 shares of the biopharmaceutical company's stock worth $3,014,000 after acquiring an additional 600,000 shares during the period. Privium Fund Management B.V. raised its position in shares of ProQR Therapeutics by 7.2% in the fourth quarter. Privium Fund Management B.V. now owns 5,357,762 shares of the biopharmaceutical company's stock valued at $10,823,000 after buying an additional 359,475 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of ProQR Therapeutics by 73.2% during the 3rd quarter. Citadel Advisors LLC now owns 657,012 shares of the biopharmaceutical company's stock valued at $1,399,000 after acquiring an additional 277,749 shares during the period. Finally, Millennium Management LLC lifted its position in ProQR Therapeutics by 80.8% during the fourth quarter. Millennium Management LLC now owns 434,991 shares of the biopharmaceutical company's stock worth $879,000 after purchasing an additional 194,369 shares during the period. Institutional investors own 32.65% of the company's stock.

ProQR Therapeutics Company Profile

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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