Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives Consensus Rating of “Hold” from Analysts

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has been given an average rating of “Hold” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.6667.

A number of brokerages have recently issued reports on PRLD. HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th.

Prelude Therapeutics Stock Performance

Prelude Therapeutics stock opened at $5.46 on Friday. Prelude Therapeutics has a fifty-two week low of $0.98 and a fifty-two week high of $6.83. The company has a market capitalization of $435.71 million, a P/E ratio of -7.48 and a beta of 0.97. The stock has a 50-day simple moving average of $5.06 and a 200-day simple moving average of $4.27.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The firm had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.70 million. As a group, analysts forecast that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Prelude Therapeutics

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Prelude Therapeutics during the second quarter worth $9,581,000. EcoR1 Capital LLC acquired a new position in Prelude Therapeutics in the 1st quarter valued at $3,239,000. ADAR1 Capital Management LLC acquired a new position in Prelude Therapeutics in the 2nd quarter valued at $4,802,000. Millennium Management LLC raised its position in Prelude Therapeutics by 361.7% during the 3rd quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock worth $1,652,000 after buying an additional 898,621 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Prelude Therapeutics during the 4th quarter worth $794,000. Hedge funds and other 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.