Prelude Therapeutics (NASDAQ:PRLD) Issues Earnings Results

Prelude Therapeutics (NASDAQ:PRLD) announced 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 company had revenue of $4.00 million for the quarter.

Prelude Therapeutics Stock Performance

NASDAQ:PRLD opened at $0.69 on Tuesday. The stock has a market cap of $37.70 million, a price-to-earnings ratio of -0.38 and a beta of 1.43. Prelude Therapeutics has a 1 year low of $0.67 and a 1 year high of $6.80. The business has a fifty day moving average of $1.02 and a 200-day moving average of $1.71.

Analyst Upgrades and Downgrades

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

Insider Activity at Prelude Therapeutics

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