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

Key Points

• Prelude Therapeutics beat quarterly estimates: The company reported an adjusted loss of $0.14 per share versus the expected loss of $0.17, while revenue of $5.70 million exceeded the $4.78 million consensus.
• Shares have risen significantly: PRLD opened at $4.99, near its 52-week high of $5.69, compared with a 52-week low of $0.75. Institutional investors own approximately 79.7% of the stock.
• Analyst sentiment remains mixed: Three analysts rate the stock Buy, one rates it Hold and one rates it Sell; the overall consensus is Hold with a $7.67 price target.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03, FiscalAI reports. The business had revenue of $5.70 million for the quarter, compared to analysts' expectations of $4.78 million.

Prelude Therapeutics Price Performance

Shares of PRLD stock opened at $4.99 on Tuesday. The business has a 50-day moving average of $4.41 and a 200 day moving average of $3.79. The stock has a market capitalization of $397.72 million, a PE ratio of -4.90 and a beta of 0.96. Prelude Therapeutics has a 1-year low of $0.75 and a 1-year high of $5.69.

Institutional Trading of Prelude Therapeutics

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC increased its stake in shares of Prelude Therapeutics by 361.7% in the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company's stock worth $1,652,000 after buying an additional 898,621 shares during the period. Marshall Wace LLP purchased a new position in shares of Prelude Therapeutics in the fourth quarter valued at about $794,000. Sphera Funds Management LTD. purchased a new position in shares of Prelude Therapeutics in the fourth quarter valued at about $356,000. Jane Street Group LLC purchased a new position in shares of Prelude Therapeutics in the second quarter valued at about $74,000. Finally, Shay Capital LLC bought a new position in shares of Prelude Therapeutics during the second quarter valued at about $61,000. Hedge funds and other institutional investors own 79.72% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Prelude Therapeutics to a "hold" rating in a research report on Tuesday, April 28th. D. Boral Capital started coverage on Prelude Therapeutics in a research note on Monday, May 4th. They issued a "buy" rating and a $9.00 target price on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised Prelude Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Prelude Therapeutics currently has an average rating of "Hold" and a consensus target price 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.

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