Prelude Therapeutics (NASDAQ:PRLD) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Prelude Therapeutics (NASDAQ:PRLD) from a buy rating to a hold rating in a report released on Sunday morning.

Several other research analysts have also commented on the stock. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.00.

Prelude Therapeutics Stock Performance

NASDAQ PRLD opened at $1.81 on Friday. Prelude Therapeutics has a 1 year low of $0.61 and a 1 year high of $4.22. The business’s fifty day moving average is $1.97 and its two-hundred day moving average is $1.45. The stock has a market capitalization of $113.79 million, a P/E ratio of -1.23 and a beta of 0.90.

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

Institutional Investors Weigh In On Prelude Therapeutics

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in 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 acquiring an additional 21,330 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Prelude Therapeutics during the second quarter worth approximately $34,000. XTX Topco Ltd grew its stake in shares of Prelude Therapeutics by 72.4% during the second 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 last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at approximately $39,000. Finally, Shay Capital LLC acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at approximately $61,000. 79.72% of the stock is currently 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.