Prelude Therapeutics Incorporated (NASDAQ:PRLD) Given Consensus Rating of “Hold” by Analysts

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been given a consensus rating of “Hold” by the five research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.6667.

Several research analysts recently issued reports on PRLD shares. Weiss Ratings upgraded shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. D. Boral Capital assumed coverage on Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 target price for the company. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. HC Wainwright boosted their target price on Prelude Therapeutics from $5.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Citizens Jmp boosted their target price on Prelude Therapeutics from $3.00 to $6.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 11th.

Insider Transactions at Prelude Therapeutics

In related news, Director Orbimed Advisors Llc acquired 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was acquired at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following the completion of the acquisition, the director owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. This trade represents a 31.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David P. Bonita acquired 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the acquisition, the director directly owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. The trade was a 31.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 49.20% of the company’s stock.

Institutional Investors Weigh In On Prelude Therapeutics

Large investors have recently modified their holdings of the business. AQR Capital Management LLC increased its holdings in shares of Prelude Therapeutics by 170.7% in the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after acquiring an additional 21,330 shares in the last quarter. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the second quarter valued at approximately $34,000. XTX Topco Ltd boosted its position in Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after purchasing an additional 17,873 shares during the last quarter. Shay Capital LLC acquired a new position in Prelude Therapeutics during the second quarter valued at approximately $61,000. Finally, Jane Street Group LLC acquired a new position in Prelude Therapeutics during the second quarter valued at approximately $74,000. 79.72% of the stock is currently owned by institutional investors.

Prelude Therapeutics Stock Down 8.4%

Shares of NASDAQ PRLD opened at $3.50 on Friday. The firm’s 50-day simple moving average is $4.18 and its 200 day simple moving average is $2.94. The company has a market cap of $278.74 million, a price-to-earnings ratio of -3.50 and a beta of 1.00. Prelude Therapeutics has a 12-month low of $0.75 and a 12-month high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.14. The company had revenue of $4.58 million for the quarter, compared to analyst estimates of $4.58 million. On average, equities analysts expect that Prelude Therapeutics will post -0.93 earnings per share for the current year.

About Prelude Therapeutics

Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude’s pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.

Among Prelude’s lead programs is PRT2527, a selective PI3K‐alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.