Prelude Therapeutics (NASDAQ:PRLD) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Prelude Therapeutics (NASDAQ:PRLD) released its quarterly earnings data on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13, FiscalAI reports. The company had revenue of $5.64 million for the quarter, compared to the consensus estimate of $20.50 million.

Prelude Therapeutics Price Performance

Shares of PRLD stock opened at $3.09 on Tuesday. The stock has a market capitalization of $194.27 million, a price-to-earnings ratio of -2.10 and a beta of 0.79. The company’s fifty day simple moving average is $2.40 and its two-hundred day simple moving average is $1.83. Prelude Therapeutics has a 1 year low of $0.61 and a 1 year high of $4.22.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PRLD. Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Thursday, January 22nd. Wall Street Zen downgraded Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Hedge Funds Weigh In On Prelude Therapeutics

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd raised its position in Prelude Therapeutics by 222.0% during the fourth quarter. XTX Topco Ltd now owns 50,159 shares of the company’s stock valued at $145,000 after purchasing an additional 34,581 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in shares of Prelude Therapeutics in the 4th quarter worth about $356,000. OMERS ADMINISTRATION Corp bought a new position in shares of Prelude Therapeutics during the 4th quarter valued at about $212,000. Marshall Wace LLP bought a new position in shares of Prelude Therapeutics during the 4th quarter valued at about $794,000. Finally, State Street Corp raised its holdings in shares of Prelude Therapeutics by 30.4% during the 4th quarter. State Street Corp now owns 127,292 shares of the company’s stock valued at $369,000 after buying an additional 29,700 shares in the last quarter. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

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.