ProQR Therapeutics (NASDAQ:PRQR) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

ProQR Therapeutics N.V. (NASDAQ:PRQR) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.87 and traded as high as $2.35. ProQR Therapeutics shares last traded at $2.32, with a volume of 1,286,791 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PRQR shares. Citigroup reiterated a “market outperform” rating on shares of ProQR Therapeutics in a research note on Wednesday, May 27th. HC Wainwright restated a “buy” rating on shares of ProQR Therapeutics in a research report on Monday, August 17th. Wall Street Zen raised ProQR Therapeutics from a “strong sell” rating to a “hold” rating in a report on Saturday, August 15th. JonesTrading dropped their target price on ProQR Therapeutics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Finally, Bank of America began coverage on ProQR Therapeutics in a research note on Thursday, August 20th. They set a “buy” rating and a $8.00 price target on the stock. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $7.50.

ProQR Therapeutics Stock Performance

The company has a market capitalization of $241.27 million, a price-to-earnings ratio of -4.98 and a beta of 0.07. The business has a 50 day moving average price of $1.88 and a 200-day moving average price of $1.71.

ProQR Therapeutics (NASDAQ:PRQR) last released its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. ProQR Therapeutics had a negative net margin of 223.51% and a negative return on equity of 73.83%. The company had revenue of $10.00 million for the quarter, compared to the consensus estimate of $4.56 million. As a group, equities analysts predict that ProQR Therapeutics N.V. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bart Filius acquired 150,000 shares of the company’s stock in a transaction on Friday, July 17th. The shares were acquired at an average cost of $1.72 per share, for a total transaction of $258,000.00. Following the purchase, the director owned 300,000 shares in the company, valued at approximately $516,000. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Boer Daniel Anton De acquired 150,000 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $261,000.00. Following the completion of the acquisition, the chief executive officer directly owned 300,000 shares in the company, valued at approximately $522,000. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 600,000 shares of company stock valued at $988,500 over the last three months. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProQR Therapeutics

Several large investors have recently made changes to their positions in the business. Privium Fund Management B.V. increased its holdings in ProQR Therapeutics by 7.2% during the fourth quarter. Privium Fund Management B.V. now owns 5,357,762 shares of the biopharmaceutical company’s stock worth $10,823,000 after buying an additional 359,475 shares during the last quarter. Ikarian Capital LLC grew its holdings 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 valued at $3,014,000 after purchasing an additional 600,000 shares during the period. Citadel Advisors LLC grew its holdings in ProQR Therapeutics by 73.2% during the third quarter. Citadel Advisors LLC now owns 657,012 shares of the biopharmaceutical company’s stock valued at $1,399,000 after purchasing an additional 277,749 shares during the period. Walleye Capital LLC increased its position in ProQR Therapeutics by 2.7% in the first quarter. Walleye Capital LLC now owns 607,529 shares of the biopharmaceutical company’s stock worth $984,000 after buying an additional 15,744 shares during the last quarter. Finally, Millennium Management LLC increased its position in ProQR Therapeutics by 80.8% in the fourth quarter. Millennium Management LLC now owns 434,991 shares of the biopharmaceutical company’s stock worth $879,000 after buying an additional 194,369 shares during the last quarter. 32.65% of the stock is owned by hedge funds and other institutional investors.

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.