ProQR Therapeutics (NASDAQ:PRQR) Announces Earnings Results

ProQR Therapeutics (NASDAQ:PRQR) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04, reports. ProQR Therapeutics had a negative net margin of 331.33% and a negative return on equity of 84.87%. The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $4.56 million.

ProQR Therapeutics Price Performance

Shares of NASDAQ:PRQR traded up $0.07 during trading on Friday, reaching $1.92. 487,193 shares of the stock were exchanged, compared to its average volume of 810,560. ProQR Therapeutics has a 1-year low of $1.33 and a 1-year high of $3.10. The stock has a fifty day moving average of $1.74 and a two-hundred day moving average of $1.66.

Insiders Place Their Bets

In other ProQR Therapeutics news, CEO Boer Daniel Anton De purchased 150,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $1.74 per share, for a total transaction of $261,000.00. Following the purchase, the chief executive officer owned 300,000 shares of the company’s stock, valued at $522,000. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bart Filius acquired 150,000 shares of the stock in a transaction on Friday, July 17th. The shares were acquired at an average price of $1.72 per share, for a total transaction of $258,000.00. Following the acquisition, the director owned 300,000 shares of the company’s stock, valued at approximately $516,000. The trade was a 100.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 600,000 shares of company stock worth $988,500. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. bought a new stake in shares of ProQR Therapeutics during the fourth quarter worth about $51,000. XTX Topco Ltd lifted its position in ProQR Therapeutics by 1,057.4% in the 4th quarter. XTX Topco Ltd now owns 117,900 shares of the biopharmaceutical company’s stock valued at $238,000 after acquiring an additional 107,713 shares in the last quarter. Ikarian Capital LLC lifted its position in ProQR Therapeutics by 67.2% in the 4th quarter. Ikarian Capital LLC now owns 1,492,229 shares of the biopharmaceutical company’s stock valued at $3,014,000 after acquiring an additional 600,000 shares in the last quarter. Quadrature Capital Ltd lifted its position in ProQR Therapeutics by 188.4% in the 4th quarter. Quadrature Capital Ltd now owns 104,231 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 68,091 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in ProQR Therapeutics by 80.8% during the 4th quarter. Millennium Management LLC now owns 434,991 shares of the biopharmaceutical company’s stock valued at $879,000 after purchasing an additional 194,369 shares during the last quarter. 32.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.