Prelude Therapeutics (NASDAQ:PRLD) Releases Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Prelude Therapeutics (NASDAQ:PRLD) issued its quarterly earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.11, Zacks reports.

Prelude Therapeutics Stock Up 3.4 %

PRLD stock opened at $0.74 on Monday. Prelude Therapeutics has a twelve month low of $0.67 and a twelve month high of $6.80. The stock has a market cap of $40.51 million, a P/E ratio of -0.41 and a beta of 1.43. The business’s 50-day moving average price is $1.03 and its 200-day moving average price is $1.74.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $4.00 price objective (down from $7.00) on shares of Prelude Therapeutics in a research report on Wednesday, December 11th.

Insider Activity

In other news, insider Andrew Combs acquired 60,000 shares of Prelude Therapeutics stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $1.37 per share, with a total value of $82,200.00. Following the purchase, the insider now directly owns 377,623 shares in the company, valued at $517,343.51. The trade was a 18.89 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Krishna Vaddi bought 100,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $0.93 per share, with a total value of $93,000.00. Following the acquisition, the chief executive officer now owns 1,167,275 shares in the company, valued at approximately $1,085,565.75. This trade represents a 9.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 198,075 shares of company stock valued at $213,486 in the last ninety days. Corporate insiders own 62.80% of the company’s stock.

Prelude Therapeutics Company Profile

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.