Prelude Therapeutics Incorporated (PRLD) – What Are Brokerages Thinking About This Stock?

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $8.75.

PRLD has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Tuesday, October 27th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. JPMorgan Chase & Co. began coverage on shares of Prelude Therapeutics in a research report on Thursday, September 17th. They set an “overweight” rating and a $12.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of Prelude Therapeutics in a research report on Wednesday, October 14th. Finally, Wall Street Zen lowered shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRLD. BlackRock Inc. acquired a new stake in Prelude Therapeutics during the 2nd quarter valued at $9,581,000. ADAR1 Capital Management LLC acquired a new position in shares of Prelude Therapeutics during the second quarter valued at $4,802,000. EcoR1 Capital LLC acquired a new stake in Prelude Therapeutics in the first quarter worth about $3,239,000. Renaissance Technologies LLC lifted its position in Prelude Therapeutics by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company’s stock valued at $941,000 after purchasing an additional 3,900 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Prelude Therapeutics in the 2nd quarter valued at about $669,000. Institutional investors and hedge funds own 79.72% of the company’s stock.

Prelude Therapeutics Price Performance

Shares of NASDAQ:PRLD opened at $3.88 on Monday. The company’s fifty day moving average price is $4.45 and its 200-day moving average price is $3.99. Prelude Therapeutics has a one year low of $1.17 and a one year high of $6.83. The firm has a market capitalization of $309.62 million, a price-to-earnings ratio of -5.32 and a beta of 1.22.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $5.70 million during the quarter, compared to analysts’ expectations of $5.70 million. As a group, equities research analysts expect that Prelude Therapeutics will post -0.57 EPS for the current year.

Prelude Therapeutics Company Profile

Prelude Therapeutics Incorporated is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights into cancer biology to design small-molecule therapies intended to target vulnerabilities in tumor cells while potentially improving selectivity over healthy tissue.

Prelude’s research and development programs have included targeted therapies aimed at cancer-related proteins and signaling pathways, including cyclin-dependent kinase 9 (CDK9) and other regulators of tumor growth and survival.