-$0.74 EPS Expected for Prelude Therapeutics Incorporated (NASDAQ:PRLD) This Quarter

Brokerages expect Prelude Therapeutics Incorporated (NASDAQ:PRLD – Get Rating) to report earnings per share of ($0.74) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Prelude Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.83) and the highest estimate coming in at ($0.64). Prelude Therapeutics reported earnings per share of ($0.58) during the same quarter last year, which indicates a negative year-over-year growth rate of 27.6%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Prelude Therapeutics will report full year earnings of ($2.91) per share for the current fiscal year, with EPS estimates ranging from ($3.46) to ($2.56). For the next financial year, analysts forecast that the business will post earnings of ($2.62) per share, with EPS estimates ranging from ($2.68) to ($2.55). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Prelude Therapeutics.

Prelude Therapeutics (NASDAQ:PRLD – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.02.

Several research analysts have recently weighed in on the stock. HC Wainwright decreased their price target on shares of Prelude Therapeutics from $62.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday. Morgan Stanley decreased their price target on shares of Prelude Therapeutics from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, March 17th. Zacks Investment Research raised Prelude Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research note on Saturday. Barclays cut Prelude Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $12.00 in a research note on Monday, February 28th. Finally, Bank of America cut Prelude Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $10.00 in a research note on Tuesday, March 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.30.

Prelude Therapeutics stock opened at $4.62 on Friday. The stock has a market cap of $220.06 million, a P/E ratio of -1.79 and a beta of 1.71. Prelude Therapeutics has a fifty-two week low of $3.87 and a fifty-two week high of $43.79. The firm’s fifty day moving average price is $6.37 and its 200-day moving average price is $10.15.

Several large investors have recently made changes to their positions in PRLD. Morgan Stanley grew its stake in shares of Prelude Therapeutics by 472.6% during the third quarter. Morgan Stanley now owns 756,787 shares of the company’s stock valued at $23,650,000 after buying an additional 624,622 shares during the last quarter. Millennium Management LLC grew its stake in shares of Prelude Therapeutics by 987.1% during the fourth quarter. Millennium Management LLC now owns 444,111 shares of the company’s stock valued at $5,529,000 after buying an additional 403,260 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Prelude Therapeutics during the fourth quarter valued at about $3,337,000. UBS Asset Management Americas Inc. grew its stake in shares of Prelude Therapeutics by 15.2% during the third quarter. UBS Asset Management Americas Inc. now owns 1,483,319 shares of the company’s stock valued at $46,354,000 after buying an additional 195,584 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Prelude Therapeutics by 23.5% during the fourth quarter. BlackRock Inc. now owns 896,504 shares of the company’s stock valued at $11,161,000 after buying an additional 170,542 shares during the last quarter. 73.80% of the stock is currently owned by hedge funds and other institutional investors.

Prelude Therapeutics Company Profile (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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