Prelude Therapeutics (NASDAQ:PRLD) Posts Earnings Results, Beats Expectations By $0.02 EPS

Prelude Therapeutics (NASDAQ:PRLDGet Rating) issued its quarterly earnings data on Tuesday. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.02, MarketWatch Earnings reports.

Shares of NASDAQ PRLD traded down $0.20 during trading on Wednesday, hitting $4.18. 2,617 shares of the company were exchanged, compared to its average volume of 286,374. Prelude Therapeutics has a 12-month low of $3.87 and a 12-month high of $45.33. The company’s fifty day moving average is $6.59. The stock has a market cap of $199.10 million, a price-to-earnings ratio of -1.73 and a beta of 1.71.

PRLD has been the topic of a number of analyst reports. Barclays cut shares of Prelude Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $12.00 in a research note on Monday, February 28th. Morgan Stanley dropped their price target on shares of Prelude Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, March 17th. Bank of America cut shares of Prelude Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $10.00 in a research note on Tuesday, March 15th. Finally, Zacks Investment Research raised shares of Prelude Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, March 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.60.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its position in shares of Prelude Therapeutics by 7,230.2% during the fourth quarter. Wells Fargo & Company MN now owns 3,152 shares of the company’s stock worth $39,000 after buying an additional 3,109 shares in the last quarter. Legal & General Group Plc lifted its stake in Prelude Therapeutics by 32.3% in the fourth quarter. Legal & General Group Plc now owns 3,914 shares of the company’s stock valued at $49,000 after buying an additional 956 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Prelude Therapeutics by 34.2% during the third quarter. Royal Bank of Canada now owns 4,906 shares of the company’s stock worth $153,000 after purchasing an additional 1,250 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Prelude Therapeutics during the fourth quarter worth approximately $157,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Prelude Therapeutics during the third quarter worth approximately $453,000. 73.80% of the stock is owned by institutional investors.

About Prelude Therapeutics (Get Rating)

Prelude Therapeutics Incorporated, a clinical-stage precision oncology company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT543 that is in Phase 1 clinical trials in select solid tumors and myeloid malignancies; and PRT811, which is in Phase 1 clinical trials in solid tumors, including glioblastoma multiforme.

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Earnings History for Prelude Therapeutics (NASDAQ:PRLD)

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