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

Prelude Therapeutics (NASDAQ:PRLD) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

PRLD has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.00.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock opened at $1.81 on Friday. The stock’s 50-day moving average is $1.97 and its 200 day moving average is $1.45. Prelude Therapeutics has a one year low of $0.61 and a one year high of $4.22. The firm has a market cap of $113.79 million, a price-to-earnings ratio of -1.23 and a beta of 0.90.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.09. The business had revenue of $6.50 million during the quarter. On average, sell-side analysts expect that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Prelude Therapeutics by 170.7% in the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after purchasing an additional 21,330 shares during the last quarter. Acadian Asset Management LLC grew its position in Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after purchasing an additional 43,946 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $39,000. XTX Topco Ltd raised its holdings in shares of Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after buying an additional 17,873 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Prelude Therapeutics during the second quarter worth $34,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

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.