Prelude Therapeutics (NASDAQ:PRLD) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Prelude Therapeutics (NASDAQ:PRLD) released its earnings results on Wednesday. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.15, Zacks reports.

Prelude Therapeutics Stock Up 1.9%

Shares of PRLD stock traded up $0.03 on Wednesday, reaching $1.38. 346,893 shares of the stock were exchanged, compared to its average volume of 512,276. The firm has a 50 day moving average of $1.39 and a two-hundred day moving average of $1.08. Prelude Therapeutics has a 1-year low of $0.61 and a 1-year high of $4.22. The stock has a market cap of $77.83 million, a P/E ratio of -0.84 and a beta of 1.37.

Institutional Investors Weigh In On Prelude Therapeutics

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Prelude Therapeutics by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 992,854 shares of the company’s stock worth $1,430,000 after buying an additional 60,284 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after purchasing an additional 43,946 shares in the last quarter. Jane Street Group LLC acquired a new stake in Prelude Therapeutics in the second quarter worth approximately $74,000. Shay Capital LLC bought a new position in shares of Prelude Therapeutics in the second quarter valued at $61,000. Finally, XTX Topco Ltd lifted its position in shares of 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 acquiring an additional 17,873 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRLD. Wall Street Zen raised shares of Prelude Therapeutics to a “hold” rating in a report on Saturday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Prelude Therapeutics in a report on Tuesday, September 23rd. JMP Securities reduced their target price on shares of Prelude Therapeutics from $4.00 to $3.00 and set a “market outperform” rating on the stock in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.00.

About Prelude Therapeutics

Prelude Therapeutics Incorporated, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT1419, a myeloid cell leukemia-1 inhibitor, which is in Phase 1 clinical trial for the treatment of selected relapsed/refractory myeloid or B-cell malignancies; PRT2527, a cyclin-dependent kinase, which is in Phase 1 clinical trial for the treatment of advanced solid tumors; PRT3645, a cyclin-dependent kinase 4/6 inhibitor, which is in Phase 1 clinical trial for the treatment of advanced and metastatic solid tumors; and PRT3879, a SMARCA2 selective protein degrader, which is in Phase 2/3 clinical trial for the treatment of advanced and metastatic solid tumors with loss of SMARCA4 due to truncating mutation and/or deletion.