Prelude Therapeutics’ (PRLD) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. Finally, D. Boral Capital began coverage on Prelude Therapeutics in a report on Monday, May 4th. They set a “buy” rating and a $9.00 target price on the stock. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Prelude Therapeutics has a consensus rating of “Hold” and an average target price of $7.67.

Prelude Therapeutics Stock Down 8.9%

Shares of PRLD opened at $4.60 on Wednesday. Prelude Therapeutics has a 52-week low of $0.75 and a 52-week high of $5.69. The firm’s fifty day moving average is $4.34 and its two-hundred day moving average is $3.67. The stock has a market cap of $366.34 million, a PE ratio of -4.60 and a beta of 0.95.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The business had revenue of $4.58 million for the quarter, compared to analysts’ expectations of $4.58 million. As a group, research analysts anticipate that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. EcoR1 Capital LLC purchased a new stake in shares of Prelude Therapeutics in the first quarter valued at about $3,239,000. ADAR1 Capital Management LLC purchased a new position in Prelude Therapeutics during the first quarter worth about $523,000. OMERS ADMINISTRATION Corp purchased a new position in Prelude Therapeutics during the fourth quarter worth about $212,000. Jane Street Group LLC boosted its holdings in Prelude Therapeutics by 218.9% in the 4th quarter. Jane Street Group LLC now owns 111,040 shares of the company’s stock valued at $322,000 after purchasing an additional 76,218 shares during the last quarter. Finally, Shay Capital LLC boosted its holdings in 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 purchasing an additional 25,000 shares during the last quarter. Institutional investors and hedge funds 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.