Prelude Therapeutics (NASDAQ:PRLD) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Prelude Therapeutics (NASDAQ:PRLD) issued its quarterly earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06, FiscalAI reports. The business had revenue of $5.70 million for the quarter, compared to analyst estimates of $5.70 million.

Prelude Therapeutics Stock Down 2.9%

Shares of Prelude Therapeutics stock traded down $0.16 during trading on Thursday, reaching $5.57. The company’s stock had a trading volume of 291,109 shares, compared to its average volume of 406,932. Prelude Therapeutics has a 52-week low of $0.82 and a 52-week high of $5.91. The firm’s 50-day moving average is $4.49 and its two-hundred day moving average is $3.84. The company has a market cap of $443.28 million, a price-to-earnings ratio of -7.64 and a beta of 0.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised 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 valued at $34,000 after buying an additional 17,873 shares during the last quarter. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 21,330 shares during the last quarter. Shay Capital LLC increased its position in shares of Prelude Therapeutics by 33.3% in the third quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock valued at $144,000 after acquiring an additional 25,000 shares during the period. State Street Corp increased its position in shares of Prelude Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 127,292 shares of the company’s stock valued at $369,000 after acquiring an additional 29,700 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Prelude Therapeutics by 48.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 117,477 shares of the company’s stock valued at $341,000 after acquiring an additional 38,150 shares during the last quarter. 79.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research report 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 report on Wednesday, July 29th. D. Boral Capital assumed coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $9.00 price objective on the stock. Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Zacks Research raised shares of 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.67.

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.