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

Prelude Therapeutics (NASDAQ:PRLD) issued its quarterly earnings data on Monday. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.11, Zacks reports. The business had revenue of $4.00 million during the quarter.

Prelude Therapeutics Price Performance

Shares of NASDAQ:PRLD opened at $0.66 on Wednesday. Prelude Therapeutics has a 1 year low of $0.66 and a 1 year high of $6.80. The company has a market capitalization of $36.38 million, a PE ratio of -0.37 and a beta of 1.43. The business has a fifty day moving average price of $1.01 and a two-hundred day moving average price of $1.68.

Analyst Ratings Changes

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

Insider Activity at Prelude Therapeutics

In other news, CEO Krishna Vaddi bought 100,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of $0.93 per share, for a total transaction of $93,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,167,275 shares of the company’s stock, valued at approximately $1,085,565.75. This trade represents a 9.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Andrew Combs bought 60,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the acquisition, the insider now directly owns 377,623 shares of the company’s stock, valued at approximately $517,343.51. The trade was a 18.89 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 198,075 shares of company stock worth $213,486. 62.80% of the stock is owned by company insiders.

About Prelude Therapeutics

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.