Prelude Therapeutics (NASDAQ:PRLD) Announces Quarterly Earnings Results

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

Prelude Therapeutics Stock Performance

NASDAQ:PRLD opened at $0.74 on Monday. The firm has a market cap of $40.51 million, a PE ratio of -0.41 and a beta of 1.43. Prelude Therapeutics has a fifty-two week low of $0.67 and a fifty-two week high of $6.80. The business has a 50 day moving average price of $1.03 and a 200-day moving average price of $1.74.

Insider Activity

In other Prelude Therapeutics news, insider Andrew Combs bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Krishna Vaddi bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired 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 of the company’s stock, valued at $1,085,565.75. This represents a 9.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 198,075 shares of company stock valued at $213,486. 62.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.