ProQR Therapeutics (NASDAQ:PRQR) Stock Price Passes Below Fifty Day Moving Average - Should You Sell?

Key Points

• ProQR Therapeutics (NASDAQ:PRQR) stock fell below its 50-day moving average of $2.18, trading as low as $2.01 before closing at $2.16 with a strong trading volume of 227,300 shares.
• Analysts maintain a positive outlook with a consensus "Buy" rating and an average target price of $8.00, with several firms reiterating their buy ratings recently.
• The company reported a quarterly earnings miss, posting ($0.14) earnings per share compared to the expected ($0.08), and revenue of $4.33 million, below the anticipated $5.01 million.

ProQR Therapeutics N.V. (NASDAQ:PRQR - Get Free Report) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.18 and traded as low as $2.01. ProQR Therapeutics shares last traded at $2.16, with a volume of 227,300 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on PRQR. JMP Securities reissued a "market outperform" rating and issued a $8.00 target price on shares of ProQR Therapeutics in a research note on Friday, June 27th. Evercore ISI reiterated an "outperform" rating on shares of ProQR Therapeutics in a research note on Friday, July 11th. Chardan Capital restated a "buy" rating and set a $4.00 price objective on shares of ProQR Therapeutics in a report on Friday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $8.00 target price on shares of ProQR Therapeutics in a research note 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 stock has a consensus rating of "Buy" and an average target price of $8.00.

ProQR Therapeutics Trading Up 2.9%

The company's 50-day simple moving average is $2.18 and its 200-day simple moving average is $1.86. The stock has a market capitalization of $227.25 million, a price-to-earnings ratio of -4.70 and a beta of 0.36.

ProQR Therapeutics (NASDAQ:PRQR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts expect that ProQR Therapeutics N.V. will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProQR Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp increased its position in shares of ProQR Therapeutics by 2,550.1% during the fourth quarter. Northern Trust Corp now owns 417,398 shares of the biopharmaceutical company's stock worth $1,106,000 after buying an additional 401,648 shares during the period. Jane Street Group LLC bought a new position in shares of ProQR Therapeutics in the 4th quarter worth about $30,000. BNP Paribas Financial Markets raised its position in shares of ProQR Therapeutics by 27.0% in the 4th quarter. BNP Paribas Financial Markets now owns 74,701 shares of the biopharmaceutical company's stock worth $198,000 after acquiring an additional 15,900 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of ProQR Therapeutics by 11.8% in the 4th quarter. Bank of America Corp DE now owns 81,784 shares of the biopharmaceutical company's stock valued at $217,000 after purchasing an additional 8,621 shares during the period. Finally, Millennium Management LLC boosted its position in shares of ProQR Therapeutics by 1,864.4% during the 4th quarter. Millennium Management LLC now owns 2,827,280 shares of the biopharmaceutical company's stock valued at $7,492,000 after purchasing an additional 2,683,351 shares in the last quarter. 32.65% of the stock is owned by institutional investors and hedge funds.

ProQR Therapeutics Company Profile

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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