ProQR Therapeutics (NASDAQ:PRQR) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

ProQR Therapeutics N.V. (NASDAQ:PRQR)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.31 and traded as low as $2.02. ProQR Therapeutics shares last traded at $2.04, with a volume of 684,480 shares traded.

Analysts Set New Price Targets

Several research analysts have recently commented on PRQR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ProQR Therapeutics in a research note on Wednesday, October 8th. Zacks Research upgraded shares of ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Chardan Capital restated a “buy” rating and issued a $4.00 price target on shares of ProQR Therapeutics in a research note on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.14.

ProQR Therapeutics Price Performance

The stock’s 50 day moving average is $2.31 and its two-hundred day moving average is $2.24. The stock has a market capitalization of $214.63 million, a PE ratio of -4.34 and a beta of 0.18.

ProQR Therapeutics (NASDAQ:PRQR) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). ProQR Therapeutics had a negative return on equity of 58.70% and a negative net margin of 273.20%.The firm had revenue of $3.38 million during the quarter, compared to analysts’ expectations of $7.05 million. On average, equities analysts predict that ProQR Therapeutics N.V. will post -0.31 earnings per share for the current year.

Hedge Funds Weigh In On ProQR Therapeutics

Several large investors have recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in ProQR Therapeutics by 59.6% in the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 4,500 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of ProQR Therapeutics by 15.2% during the 3rd quarter. Raymond James Financial Inc. now owns 110,270 shares of the biopharmaceutical company’s stock worth $235,000 after acquiring an additional 14,549 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in ProQR Therapeutics by 23.1% during the third quarter. OneDigital Investment Advisors LLC now owns 80,000 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 15,000 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in ProQR Therapeutics by 14.9% in the third quarter. BNP Paribas Financial Markets now owns 139,594 shares of the biopharmaceutical company’s stock valued at $297,000 after purchasing an additional 18,100 shares in the last quarter. Finally, Sio Capital Management LLC increased its stake in ProQR Therapeutics by 1.0% in the second quarter. Sio Capital Management LLC now owns 2,075,139 shares of the biopharmaceutical company’s stock valued at $4,233,000 after purchasing an additional 20,546 shares during the last quarter. Hedge funds and other institutional investors own 32.65% of the company’s stock.

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.