Pardes Biosciences (NASDAQ:PRDS) Issues Earnings Results, Misses Estimates By $0.08 EPS

Pardes Biosciences (NASDAQ:PRDSGet Rating) issued its earnings results on Monday. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.08), Fidelity Earnings reports.

Pardes Biosciences Stock Up 0.7 %

Pardes Biosciences stock opened at $2.88 on Wednesday. The business has a 50 day moving average of $3.52 and a 200-day moving average of $6.12. Pardes Biosciences has a 1 year low of $2.60 and a 1 year high of $17.76.

Analysts Set New Price Targets

Separately, SVB Leerink dropped their price target on Pardes Biosciences from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday.

Institutional Investors Weigh In On Pardes Biosciences

Several hedge funds have recently added to or reduced their stakes in PRDS. American International Group Inc. acquired a new position in shares of Pardes Biosciences during the second quarter worth $41,000. JPMorgan Chase & Co. bought a new position in Pardes Biosciences during the 2nd quarter worth $47,000. UBS Group AG lifted its holdings in Pardes Biosciences by 15,676.0% during the 2nd quarter. UBS Group AG now owns 23,664 shares of the company’s stock worth $72,000 after buying an additional 23,514 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Pardes Biosciences in the 1st quarter valued at about $75,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Pardes Biosciences in the first quarter valued at about $105,000.

Pardes Biosciences Company Profile

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Pardes Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics to improve the lives of patients suffering from life-threatening disease. Its lead candidate is the PBI-0451 that is in clinical development stage to treat and prevent severe acute respiratory syndrome coronavirus 2 infections and associated diseases.

Further Reading

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