ProQR Therapeutics (NASDAQ:PRQR) Shares Cross Above 50 Day Moving Average – Here’s Why

Shares of ProQR Therapeutics (NASDAQ:PRQR) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.79 and traded as high as $3.69. ProQR Therapeutics shares last traded at $3.67, with a volume of 234,296 shares.

Analysts Set New Price Targets

PRQR has been the subject of a number of analyst reports. HC Wainwright boosted their target price on shares of ProQR Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Raymond James upgraded ProQR Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $6.00 to $14.00 in a research report on Tuesday, October 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ProQR Therapeutics presently has an average rating of “Buy” and a consensus price target of $7.13.

ProQR Therapeutics Stock Performance

The company has a market capitalization of $295.68 million, a price-to-earnings ratio of -11.31 and a beta of 0.26. The business’s 50 day moving average price is $2.86 and its two-hundred day moving average price is $2.22.

Institutional Trading of ProQR Therapeutics

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in shares of ProQR Therapeutics by 120.1% in the 1st quarter. BNP Paribas Financial Markets now owns 35,001 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 19,100 shares during the last quarter. Acadian Asset Management LLC bought a new stake in ProQR Therapeutics during the first quarter worth approximately $56,000. EP Wealth Advisors LLC acquired a new position in ProQR Therapeutics in the first quarter worth approximately $26,000. Ikarian Capital LLC increased its holdings in shares of ProQR Therapeutics by 2.3% in the first quarter. Ikarian Capital LLC now owns 483,583 shares of the biopharmaceutical company’s stock valued at $1,098,000 after buying an additional 10,958 shares in the last quarter. Finally, Privium Fund Management B.V. lifted its position in shares of ProQR Therapeutics by 4.4% during the 2nd quarter. Privium Fund Management B.V. now owns 5,580,725 shares of the biopharmaceutical company’s stock valued at $9,208,000 after acquiring an additional 236,279 shares during the last quarter. Institutional investors and hedge funds own 32.65% of the company’s stock.

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).