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

Prelude Therapeutics (NASDAQ:PRLD) announced its quarterly earnings data on Tuesday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 Trading Down 4.6%

Shares of Prelude Therapeutics stock traded down $0.22 during mid-day trading on Tuesday, reaching $4.58. 148,707 shares of the stock were exchanged, compared to its average volume of 399,423. The company has a market cap of $288.60 million, a price-to-earnings ratio of -3.52 and a beta of 1.11. The firm has a 50-day simple moving average of $3.85 and a 200 day simple moving average of $2.66. Prelude Therapeutics has a fifty-two week low of $0.75 and a fifty-two week high of $5.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PRLD shares. Weiss Ratings upgraded shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Zacks Research upgraded shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. D. Boral Capital started coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They issued a “buy” rating and a $9.00 price objective for the company. Citizens Jmp increased their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 11th. Finally, 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. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $7.67.

Insider Transactions at Prelude Therapeutics

In other news, Director Orbimed Advisors Llc bought 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was acquired at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following the transaction, the director directly owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. This trade represents a 31.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Bonita bought 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were purchased at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director directly owned 11,808,945 shares in the company, valued at $52,431,715.80. This represents a 31.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 49.20% of the company’s stock.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its holdings in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after acquiring an additional 21,330 shares during the last quarter. Marshall Wace LLP bought a new stake in Prelude Therapeutics during the 2nd quarter worth about $34,000. XTX Topco Ltd grew its holdings in Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after acquiring an additional 17,873 shares during the last quarter. Shay Capital LLC bought a new stake in Prelude Therapeutics during the 2nd quarter worth about $61,000. Finally, Jane Street Group LLC bought a new stake in Prelude Therapeutics during the 2nd quarter worth about $74,000. Institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

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.