Prelude Therapeutics (NASDAQ:PRLD) Releases Earnings Results, Meets Expectations

Prelude Therapeutics (NASDAQ:PRLD) released its quarterly earnings results on Monday. The company reported ($0.46) EPS for the quarter, hitting the consensus estimate of ($0.46), Zacks reports.

Prelude Therapeutics Stock Down 16.8 %

Shares of Prelude Therapeutics stock traded down $1.04 during trading on Wednesday, hitting $5.16. 191,164 shares of the stock were exchanged, compared to its average volume of 80,382. The stock’s fifty day moving average is $4.61 and its 200 day moving average is $4.27. Prelude Therapeutics has a 12 month low of $1.66 and a 12 month high of $6.80.

Analysts Set New Price Targets

Separately, Barclays lowered shares of Prelude Therapeutics from an “equal weight” rating to an “underweight” rating and set a $3.00 target price for the company. in a research note on Thursday, June 20th.

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.