Prelude Therapeutics Incorporated (NASDAQ:PRLD) Given Average Recommendation of “Hold” by Analysts

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.6667.

Several analysts recently issued reports on the company. D. Boral Capital began coverage on Prelude Therapeutics in a research note on Monday, May 4th. They issued a “buy” rating and a $9.00 price target for the company. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. HC Wainwright reissued a “buy” rating and set a $8.00 target price on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Wall Street Zen raised shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th.

Prelude Therapeutics Stock Up 10.1%

Shares of PRLD stock opened at $5.32 on Wednesday. Prelude Therapeutics has a 12-month low of $0.75 and a 12-month high of $5.85. The company has a market capitalization of $423.68 million, a PE ratio of -5.32 and a beta of 0.96. The firm has a 50 day moving average price of $4.45 and a two-hundred day moving average price of $3.81.

Prelude Therapeutics (NASDAQ:PRLD) last posted its earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $5.70 million during the quarter, compared to analyst estimates of $4.78 million. As a group, research analysts expect that Prelude Therapeutics will post -0.62 EPS for the current year.

Institutional Trading of Prelude Therapeutics

A number of institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Prelude Therapeutics by 170.7% during the 1st 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 increased its holdings in shares of Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after purchasing an additional 43,946 shares during the period. XTX Topco Ltd raised 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 valued at $34,000 after buying an additional 17,873 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC bought a new stake in shares of Prelude Therapeutics in the second quarter valued at approximately $74,000. Institutional investors own 79.72% of the company’s stock.

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.