Prelude Therapeutics (NASDAQ:PRLD) Stock Price Up 2.1% – What’s Next?

Prelude Therapeutics Incorporated (NASDAQ:PRLD) rose 2.1% during mid-day trading on Wednesday . The stock traded as high as $2.33 and last traded at $2.2350. Approximately 107,876 shares changed hands during trading, a decline of 75% from the average daily volume of 424,425 shares. The stock had previously closed at $2.19.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PRLD. Wall Street Zen upgraded Prelude Therapeutics to a “hold” rating in a research note on Saturday, October 18th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research report on Tuesday, September 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

Prelude Therapeutics Stock Up 2.1%

The company has a market capitalization of $140.51 million, a PE ratio of -1.52 and a beta of 1.06. The business has a 50 day simple moving average of $1.66 and a 200 day simple moving average of $1.26.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.09. The company had revenue of $6.50 million for the quarter. Equities analysts expect that Prelude Therapeutics Incorporated will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of large investors have recently made changes to their positions in PRLD. XTX Topco Ltd boosted its holdings in 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 purchasing an additional 17,873 shares during the last quarter. AQR Capital Management LLC raised its stake 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 valued at $26,000 after buying an additional 21,330 shares during the last quarter. Shay Capital LLC lifted its holdings in shares of Prelude Therapeutics by 33.3% in the 3rd quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock valued at $144,000 after buying an additional 25,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Prelude Therapeutics in the 2nd quarter valued at about $34,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Prelude Therapeutics by 9.1% in the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after buying an additional 43,946 shares during the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.

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.