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

Prelude Therapeutics (NASDAQ:PRLD) posted its quarterly earnings data on Tuesday. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14, FiscalAI reports. The company had revenue of $4.58 million for the quarter, compared to the consensus estimate of $5.88 million.

Prelude Therapeutics Stock Performance

Shares of PRLD traded down $0.02 during mid-day trading on Tuesday, reaching $4.78. The company had a trading volume of 81,045 shares, compared to its average volume of 398,428. The company has a market capitalization of $301.20 million, a price-to-earnings ratio of -3.72 and a beta of 1.11. The company’s 50 day simple moving average is $3.85 and its 200 day simple moving average is $2.66. Prelude Therapeutics has a 1-year low of $0.75 and a 1-year high of $5.54.

Analysts Set New Price Targets

PRLD has been the topic of several analyst reports. Wall Street Zen lowered Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. D. Boral Capital started coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 price objective for the company. Zacks Research upgraded shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. Finally, Citizens Jmp boosted their target price on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.67.

Insider Transactions at Prelude Therapeutics

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

Institutional Investors Weigh In On Prelude Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in shares of Prelude Therapeutics by 170.7% in the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after purchasing an additional 21,330 shares in the last quarter. Marshall Wace LLP bought a new stake in Prelude Therapeutics during the 2nd quarter valued at $34,000. XTX Topco Ltd increased its stake in Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after purchasing an additional 17,873 shares in the last quarter. Shay Capital LLC acquired a new position in Prelude Therapeutics during the second quarter worth $61,000. Finally, Jane Street Group LLC acquired a new position in Prelude Therapeutics during the second quarter worth $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.