Prelude Therapeutics (NASDAQ:PRLD) Posts Earnings Results, Beats Expectations By $0.14 EPS

Prelude Therapeutics (NASDAQ:PRLD – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14, FiscalAI reports. The business had revenue of $4.58 million during the quarter, compared to analyst estimates of $5.88 million.

Prelude Therapeutics Price Performance

PRLD traded down $0.02 on Tuesday, hitting $4.78. The company had a trading volume of 81,045 shares, compared to its average volume of 398,428. The stock has a fifty day simple moving average of $3.85 and a 200-day simple moving average of $2.66. The firm has a market capitalization of $301.20 million, a P/E ratio of -3.72 and a beta of 1.11. Prelude Therapeutics has a 52-week low of $0.75 and a 52-week high of $5.54.

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Insiders Place Their Bets

In other Prelude Therapeutics news, Director David P. Bonita purchased 2,815,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the purchase, the director directly owned 11,808,945 shares in the company, valued at $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc bought 2,815,315 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were acquired at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the purchase, the director directly owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. This represents a 31.30% increase in their position. The disclosure for this purchase is available in the SEC filing. 49.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prelude Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Prelude Therapeutics during the fourth quarter valued at $794,000. Geode Capital Management LLC boosted its stake in Prelude Therapeutics by 25.4% in the 4th quarter. Geode Capital Management LLC now owns 272,886 shares of the company’s stock worth $792,000 after purchasing an additional 55,318 shares in the last quarter. Acadian Asset Management LLC grew its position in Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after purchasing an additional 43,946 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in Prelude Therapeutics during the 4th quarter valued at about $356,000. Finally, Jane Street Group LLC increased its stake in Prelude Therapeutics by 218.9% during the 4th quarter. Jane Street Group LLC now owns 111,040 shares of the company’s stock valued at $322,000 after purchasing an additional 76,218 shares in the last quarter. 79.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PRLD shares. HC Wainwright increased their price objective on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, April 27th. D. Boral Capital initiated coverage on Prelude Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $9.00 target price for the company. Weiss Ratings raised Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Finally, Citizens Jmp boosted their price objective on Prelude Therapeutics from $3.00 to $6.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.67.

Read Our Latest Analysis on Prelude Therapeutics

Prelude Therapeutics Company Profile

(Get Free Report)

Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude’s pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.

Among Prelude’s lead programs is PRT2527, a selective PI3K‐alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.

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