Prelude Therapeutics (NASDAQ:PRLD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Prelude Therapeutics (NASDAQ:PRLD) from a buy rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. D. Boral Capital started coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.67.

Prelude Therapeutics Stock Up 2.4%

Shares of NASDAQ:PRLD opened at $5.60 on Friday. Prelude Therapeutics has a twelve month low of $0.98 and a twelve month high of $6.83. The stock’s 50 day moving average is $4.97 and its 200-day moving average is $4.20. The firm has a market capitalization of $446.88 million, a price-to-earnings ratio of -7.67 and a beta of 0.96.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $5.70 million during the quarter, compared to analyst estimates of $5.70 million. Equities research analysts anticipate that Prelude Therapeutics will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Several institutional investors have recently made changes to their positions in PRLD. GSA Capital Partners LLP purchased a new stake in shares of Prelude Therapeutics in the second quarter valued at about $68,000. Hsbc Holdings PLC purchased a new position in Prelude Therapeutics during the second quarter worth about $74,000. Bank of America Corp DE purchased a new position in Prelude Therapeutics during the second quarter worth about $127,000. Deutsche Bank AG bought a new stake in Prelude Therapeutics in the 2nd quarter worth about $148,000. Finally, State of Wyoming bought a new stake in Prelude Therapeutics in the 2nd quarter worth about $175,000. Institutional investors own 79.72% of the company’s stock.

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.