uniQure (NASDAQ:QURE) Shares Gap Down – Here’s What Happened

Shares of uniQure N.V. (NASDAQ:QURE) gapped down before the market opened on Tuesday. The stock had previously closed at $39.11, but opened at $23.85. uniQure shares last traded at $25.3910, with a volume of 14,515,948 shares traded.

uniQure News Roundup

Here are the key news stories impacting uniQure this week:

• Positive Sentiment: AMT-130 continued to show evidence of slowing disease progression. In the 36-month analysis, high-dose patients showed an 80% slowing on cUHDRS and a 67% slowing on Total Functional Capacity (TFC), while the 48-month analysis showed a 61% slowing on TFC. uniQure Announces Additional Data from Ongoing Phase I/II Studies
• Positive Sentiment: uniQure said the treatment effect appeared dose-dependent and that the FDA had previously accepted 36-month data as the basis for its submitted Biologics License Application under the accelerated-approval pathway. The company continues to argue that AMT-130 has a viable route to approval. UniQure Insists Huntington’s Drug Is Still on Track
• Neutral Sentiment: The therapy was generally well tolerated, with administration-related adverse events resolving. However, five high-dose patients experienced treatment-related serious adverse events involving central nervous system inflammation, all of which resolved; one suicide in a low-dose patient was judged unrelated to treatment. UniQure’s Huntington’s therapy fails significantly to slow disease progression
• Negative Sentiment: The key 48-month cUHDRS endpoint showed a 44% slowing of progression but was not statistically significant (p=0.144). Investors viewed this as a major setback because the result weakens confidence in the durability and reliability of AMT-130’s benefit. Why is uniQure Stock Down
• Negative Sentiment: The four-year dataset was affected by substantial missing data and possible survivor bias in the external control group. Although a post-hoc analysis produced stronger results, those analyses are less persuasive than the prespecified endpoint, increasing regulatory and execution risk. UniQure Huntington’s Treatment Benefit Is Less After Four Years

Wall Street Analysts Forecast Growth

QURE has been the topic of a number of recent analyst reports. Weiss Ratings upgraded uniQure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. HC Wainwright raised their price target on shares of uniQure from $50.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, June 29th. William Blair raised shares of uniQure to a “strong-buy” rating in a report on Wednesday, September 23rd. Mizuho upped their price objective on shares of uniQure from $35.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Finally, Barclays dropped their price objective on shares of uniQure from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.55.

uniQure Stock Down 39.1%

The stock has a 50 day moving average price of $44.57 and a 200 day moving average price of $33.25. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -5.91 and a beta of 0.94. The company has a quick ratio of 10.01, a current ratio of 10.01 and a debt-to-equity ratio of 0.15.

uniQure (NASDAQ:QURE) last released its quarterly earnings data on Wednesday, July 29th. The biotechnology company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.40). uniQure had a negative net margin of 1,350.73% and a negative return on equity of 111.96%. The firm had revenue of $5.84 million during the quarter, compared to analyst estimates of $5.45 million. During the same period in the prior year, the company earned ($0.69) EPS. As a group, analysts forecast that uniQure N.V. will post -3.82 EPS for the current year.

Insider Transactions at uniQure

In other news, CEO Matthew Kapusta sold 21,082 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $45.16, for a total transaction of $952,063.12. Following the completion of the transaction, the chief executive officer owned 519,227 shares of the company’s stock, valued at approximately $23,448,291.32. This trade represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QURE. IFP Advisors Inc lifted its holdings in uniQure by 39.8% during the 2nd quarter. IFP Advisors Inc now owns 2,780 shares of the biotechnology company’s stock worth $128,000 after buying an additional 791 shares during the period. Mraz Amerine & Associates Inc. acquired a new stake in shares of uniQure in the second quarter valued at about $390,000. Arizona State Retirement System raised its position in shares of uniQure by 17.7% during the second quarter. Arizona State Retirement System now owns 12,940 shares of the biotechnology company’s stock worth $596,000 after acquiring an additional 1,942 shares during the last quarter. Syon Capital LLC bought a new position in shares of uniQure during the second quarter worth about $279,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of uniQure in the second quarter worth approximately $15,254. 78.83% of the stock is owned by institutional investors.

About uniQure

uniQure N.V. is a biotechnology company focused on developing gene therapies for serious and life-threatening diseases. The company uses adeno-associated virus (AAV) technology to deliver genetic material intended to address the underlying causes of disease, with research activities spanning neurological, neuromuscular, metabolic and cardiovascular conditions.

uniQure’s pipeline has included AMT-130, an investigational gene therapy for Huntington’s disease, as well as programs targeting other conditions such as amyotrophic lateral sclerosis and Fabry disease.