Prelude Therapeutics (NASDAQ:PRLD) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Prelude Therapeutics (NASDAQ:PRLD) announced its quarterly earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03, FiscalAI reports. The firm had revenue of $5.70 million during the quarter, compared to the consensus estimate of $4.78 million.

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock traded up $0.07 during trading on Tuesday, reaching $4.90. The company’s stock had a trading volume of 27,572 shares, compared to its average volume of 401,923. The firm has a market cap of $390.16 million, a price-to-earnings ratio of -4.91 and a beta of 0.96. The business’s fifty day moving average price is $4.41 and its 200-day moving average price is $3.79. Prelude Therapeutics has a one year low of $0.75 and a one year high of $5.69.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after purchasing an additional 21,330 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics in the second quarter valued at about $34,000. XTX Topco Ltd grew its position in Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after buying an additional 17,873 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Prelude Therapeutics during the fourth quarter valued at about $212,000. Finally, Shay Capital LLC acquired a new position in Prelude Therapeutics in the 2nd quarter valued at approximately $61,000. Institutional investors and hedge funds own 79.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. D. Boral Capital assumed coverage on Prelude Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $9.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Finally, Zacks Research raised Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Prelude Therapeutics has an average rating of “Hold” and a consensus price target of $7.67.

About Prelude Therapeutics

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.