The stock of ProQR Therapeutics NV (PRQR) formed a down wedge with $7.20 target or 14.00% below today’s $8.37 share price. The 7 months wedge indicates high risk for the $196.60M company. If the $7.20 price target is reached, the company will be worth $27.52M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high. The stock is down 1.88% or $0.16 after the news, hitting $8.37 per share. About 20,636 shares traded hands. ProQR Therapeutics NV (NASDAQ:PRQR) has declined 57.96% since May 8, 2015 and is downtrending. It has underperformed by 54.94% the S&P500.
According to Zacks Investment Research, “ProQR Therapeutics B.V. is a biotech company. It is engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis (CF). The Company’s lead product candidate includes QR-010, a RNA-based oligonucleotide for the treatment of cystic fibrosis. ProQR Therapeutics B.V. is headquartered in Leiden, the Netherlands.” Get a free copy of the Zacks research report on ProQR Therapeutics NV (PRQR).
More news for ProQR Therapeutics NV (NASDAQ:PRQR) were recently published by: Quotes.Wsj.com, which released: “DOW JONES, A NEWS CORP COMPANY” on September 13, 2014. Streetinsider.com‘s article titled: “HC Wainwright Starts ProQR Therapeutics NV (PRQR) at Buy” and published on October 13, 2014 is yet another important article.
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