ProQR Therapeutics (NASDAQ:PRQR) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

ProQR Therapeutics (NASDAQ:PRQR) announced 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 during the quarter, compared to analyst estimates of $4.56 million.

ProQR Therapeutics Stock Performance

Shares of PRQR traded up $0.07 during mid-day trading on Friday, reaching $1.92. The company had a trading volume of 487,193 shares, compared to its average volume of 810,560. The firm has a 50-day moving average price of $1.74 and a 200 day moving average price of $1.66. The company has a market capitalization of $202.29 million, a price-to-earnings ratio of -3.84 and a beta of 0.07. ProQR Therapeutics has a 52 week low of $1.33 and a 52 week high of $3.10.

Analyst Ratings Changes

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

Insider Transactions at ProQR Therapeutics

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

Institutional Investors Weigh In On ProQR Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Ikarian Capital LLC lifted its holdings in ProQR Therapeutics by 67.2% in the fourth 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 during the period. Citadel Advisors LLC lifted its position 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 in the last quarter. Millennium Management LLC lifted its position in shares of 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 buying an additional 194,369 shares in the last quarter. Two Sigma Investments LP raised its stake in ProQR Therapeutics by 86.3% during the 3rd quarter. Two Sigma Investments LP now owns 417,300 shares of the biopharmaceutical company’s stock worth $889,000 after acquiring an additional 193,260 shares during the period. Finally, Palo Alto Investors LP bought a new stake in shares of ProQR Therapeutics during the 3rd quarter valued at $402,000. 32.65% of the stock is currently 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.