ProQR Therapeutics (NASDAQ:PRQR) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of ProQR Therapeutics N.V. (NASDAQ:PRQR) passed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PRQR. JonesTrading lowered their price target 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 restated a “market outperform” rating on shares of ProQR Therapeutics in a research report on Wednesday, May 27th. Wall Street Zen cut ProQR Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings cut ProQR Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Finally, Chardan Capital lowered their target price on ProQR Therapeutics from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, June 26th. Four 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.33.

ProQR Therapeutics Price Performance

The stock has a 50-day moving average price of $1.63 and a 200-day moving average price of $1.66. The company has a market capitalization of $185.43 million, a P/E ratio of -3.52 and a beta of 0.04.

ProQR Therapeutics (NASDAQ:PRQR) last released its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.15). ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. The business had revenue of $2.35 million during the quarter, compared to the consensus estimate of $5.19 million. Sell-side analysts anticipate that ProQR Therapeutics N.V. will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Boer Daniel Anton De acquired 150,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were purchased at an average price of $1.74 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bart Filius bought 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of $1.54 per share, with a total value of $231,000.00. Following the completion of the transaction, the director directly owned 150,000 shares in the company, valued at $231,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 450,000 shares of company stock valued at $730,500. 8.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRQR. Osaic Holdings Inc. raised its stake in shares of ProQR Therapeutics by 59.6% in the second quarter. Osaic Holdings Inc. now owns 12,050 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 4,500 shares during the last quarter. Guggenheim Capital LLC purchased a new position in ProQR Therapeutics in the fourth quarter valued at approximately $35,000. Moody Lynn & Lieberson LLC bought a new stake in shares of ProQR Therapeutics in the fourth quarter valued at $50,000. Invesco Ltd. purchased a new stake in ProQR Therapeutics during the fourth quarter valued at about $51,000. Finally, Axiom Investment Management LLC bought a new stake in shares of ProQR Therapeutics in the first quarter valued at approximately $53,000. Institutional investors and hedge funds 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.