Fact Check: What’s up with ProQR Therapeutics N.V. (PRQR) today

The biggest gainers of the session on the Wall Street include ProQR Therapeutics N.V. (NASDAQ:PRQR), which rose 1.66 points or 20.78% to trade at $9.65 as last check. The stock closed last session at $7.99 and sets an active trading volume day with a reported 277798 contracts so far this session. PRQR shares had a relatively better volume day versus average trading capacity of 183.74 thousand shares, but with a 35.38 million float and a -13.15% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PRQR stock indicates that the average analyst price target is $28.79 per share. This means the stock has a potential increase of 198.34% from where the PRQR share price has been trading recently which is between $7.95 and $8.96. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $20.

The shorts are climbing into ProQR Therapeutics N.V. (PRQR) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in PRQR shares. While short interest still represents only 7.36% of PRQR’s float, the number of shares shorted have risen by 37937. The number of shares shorted advanced to 2457111 shares, up from 2419174 shares during the preceding fortnight. With average daily trading volumes at 219507 shares, days to cover decreased to about 21.3145 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “ProQR Announces Presentation on QR-421a Program in Ophthalmology at Usher Syndrome Coalition Conference in July” and dated July 02, 2019.

During the recent trading session for ProQR Therapeutics N.V. (NASDAQ:PRQR), the company witnessed their stock rise $0.14 over a week and tumble down $-2.29 from the price 20 days ago. When compared to their established 52-week high of $24, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/11/18. The recent low of $6.4 stood for a -59.79% since 07/27/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.17 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for ProQR Therapeutics N.V., the two-week RSI stands at 48.73. This figure suggests that PRQR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PRQR readings is similarly very revealing as it has a stochastic reading of 24.22% at this stage. This figure means that PRQR share price today is being overbought.

Technical chart claims that ProQR Therapeutics N.V. (PRQR) would settle between $8.65/share to $9.31/share level. However, if the stock price goes below the $7.64 mark, then the market for ProQR Therapeutics N.V. becomes much weaker. If that happens, the stock price might even plunge as low as $7.29 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.31. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Chardan Capital Markets lifted target price for shares of PRQR but were stick to Buy recommendation for the stock in their opinion released on March 12. The price target has been raised from $21 to $25. RBC Capital Mkts, analysts launched coverage of ProQR Therapeutics N.V. (NASDAQ:PRQR) stock with a Outperform recommendation, according to their flash note issued to investors on December 19. Analysts at Citigroup, made their first call for the equity with a Buy recommendation, according to a research note that dated back to November 15.

PRQR equity has an average rating of 1.67, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 9 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 9 analysts rated ProQR Therapeutics N.V. (NASDAQ:PRQR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, PRQR stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 79.24 while for the average stock in the same group, the multiple is 49.43.