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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has earned a consensus rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.6667.

Several research firms have issued reports on PRLD. D. Boral Capital began coverage on Prelude Therapeutics in a report on Monday, May 4th. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Citizens Jmp lifted 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. Finally, HC Wainwright lifted 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.

Insider Activity at Prelude Therapeutics

In other news, Director Orbimed Advisors Llc bought 2,815,315 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was bought at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following the transaction, the director owned 11,808,945 shares in the company, valued at $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Bonita bought 2,815,315 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was purchased at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director owned 11,808,945 shares in the company, 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. 49.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRLD. AQR Capital Management LLC boosted its position in Prelude Therapeutics by 170.7% during 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 period. Acadian Asset Management LLC boosted 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 valued at $405,000 after purchasing an additional 43,946 shares during the period. XTX Topco Ltd boosted its position in Prelude Therapeutics by 72.4% during the 2nd 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 period. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $34,000. Finally, Jane Street Group LLC acquired a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $74,000. Institutional investors and hedge funds own 79.72% of the company’s stock.

Prelude Therapeutics Price Performance

PRLD stock opened at $4.32 on Tuesday. Prelude Therapeutics has a 52-week low of $0.75 and a 52-week high of $5.54. The stock’s 50 day moving average is $4.36 and its two-hundred day moving average is $3.20. The company has a market capitalization of $344.04 million, a PE ratio of -4.32 and a beta of 1.00.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data 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 business had revenue of $4.58 million for the quarter, compared to analysts’ expectations of $4.58 million. As a group, sell-side analysts anticipate that Prelude Therapeutics will post -0.93 EPS for the current year.

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.