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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.6667.

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

Insider Buying and Selling

In other 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 shares were purchased 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 approximately $52,431,715.80. This represents a 31.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David P. Bonita acquired 2,815,315 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the transaction, the director owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. This represents a 31.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 49.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in 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 purchasing an additional 21,330 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after buying an additional 43,946 shares in the last quarter. XTX Topco Ltd lifted its position 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. Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth about $34,000. Finally, Jane Street Group LLC bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth about $74,000. Institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Stock Performance

PRLD stock opened at $3.93 on Friday. The firm has a 50 day simple moving average of $4.15 and a 200 day simple moving average of $2.90. Prelude Therapeutics has a 52 week low of $0.75 and a 52 week high of $5.54. The stock has a market cap of $312.99 million, a P/E ratio of -3.93 and a beta of 1.11.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.14. The company had revenue of $4.58 million during the quarter, compared to analyst estimates of $4.58 million. Sell-side analysts predict that Prelude Therapeutics will post -0.93 EPS 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.