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

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been given a consensus rating of “Hold” by the five ratings firms that are 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 given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $7.6667.

Several equities research analysts have commented on the company. D. Boral Capital assumed coverage on Prelude Therapeutics in a research note on Monday, May 4th. They issued a “buy” rating and a $9.00 target price on the stock. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. HC Wainwright reissued a “buy” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st.

Prelude Therapeutics Stock Down 3.0%

Shares of NASDAQ:PRLD opened at $3.92 on Friday. The firm has a market cap of $312.19 million, a price-to-earnings ratio of -3.92 and a beta of 0.95. Prelude Therapeutics has a 12 month low of $0.75 and a 12 month high of $5.69. The company’s fifty day simple moving average is $4.34 and its 200 day simple moving average is $3.59.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates 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. Research analysts expect that Prelude Therapeutics will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Prelude Therapeutics by 170.7% during the first 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. Marshall Wace LLP bought a new position in Prelude Therapeutics in the second quarter valued at approximately $34,000. XTX Topco Ltd increased its position in shares of Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after purchasing an additional 17,873 shares during the last quarter. Shay Capital LLC acquired a new position in shares of Prelude Therapeutics during the 2nd quarter worth approximately $61,000. Finally, Jane Street Group LLC bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $74,000. 79.72% of the stock is owned by institutional investors.

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.