-$0.68 Earnings Per Share Expected for Prelude Therapeutics Incorporated (NASDAQ:PRLD) This Quarter

Wall Street analysts predict that Prelude Therapeutics Incorporated (NASDAQ:PRLD – Get Rating) will report earnings of ($0.68) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Prelude Therapeutics’ earnings, with estimates ranging from ($0.76) to ($0.64). Prelude Therapeutics reported earnings per share of ($0.47) in the same quarter last year, which suggests a negative year over year growth rate of 44.7%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Prelude Therapeutics will report full year earnings of ($2.92) per share for the current financial year, with EPS estimates ranging from ($3.46) to ($2.58). For the next fiscal year, analysts forecast that the business will report earnings of ($2.63) per share, with EPS estimates ranging from ($2.70) to ($2.55). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Prelude Therapeutics.

Prelude Therapeutics (NASDAQ:PRLD – Get Rating) last posted its quarterly earnings results on Wednesday, March 16th. The company reported ($0.71) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.02).

Several research analysts recently commented on PRLD shares. Bank of America lowered shares of Prelude Therapeutics from a “buy” rating to a “neutral” rating and cut their price target for the company from $50.00 to $10.00 in a report on Tuesday, March 15th. Morgan Stanley lowered their price objective on shares of Prelude Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, March 17th. Barclays downgraded shares of Prelude Therapeutics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $12.00 in a research report on Monday, February 28th. Finally, Zacks Investment Research raised shares of Prelude Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Prelude Therapeutics currently has a consensus rating of “Hold” and an average target price of $22.60.

NASDAQ PRLD traded down $0.27 during mid-day trading on Friday, hitting $4.59. The company’s stock had a trading volume of 176,998 shares, compared to its average volume of 382,409. Prelude Therapeutics has a 52-week low of $4.54 and a 52-week high of $45.33. The stock’s fifty day simple moving average is $7.32 and its two-hundred day simple moving average is $11.16.

Hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of Prelude Therapeutics during the third quarter worth approximately $50,000. BlackRock Inc. boosted its holdings in Prelude Therapeutics by 3.3% in the third quarter. BlackRock Inc. now owns 725,962 shares of the company’s stock worth $22,686,000 after purchasing an additional 23,120 shares during the period. Qube Research & Technologies Ltd acquired a new position in Prelude Therapeutics in the fourth quarter worth $291,000. Parkwood LLC acquired a new position in Prelude Therapeutics in the fourth quarter worth $158,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Prelude Therapeutics by 69.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 22,832 shares of the company’s stock worth $284,000 after purchasing an additional 9,350 shares during the period. 75.93% of the stock is owned by institutional investors and hedge funds.

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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