Prelude Therapeutics (NASDAQ:PRLD) Coverage Initiated by Analysts at D. Boral Capital

Equities researchers at D. Boral Capital began coverage on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Monday. The brokerage set a “buy” rating and a $9.00 price target on the stock. D. Boral Capital’s price target points to a potential upside of 91.49% from the stock’s current price.

Several other research firms also recently commented on PRLD. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Citizens Jmp boosted their target price on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 11th. Weiss Ratings raised shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, HC Wainwright boosted their target price on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.67.

Prelude Therapeutics Price Performance

PRLD opened at $4.70 on Monday. The firm has a market cap of $296.10 million, a P/E ratio of -3.64 and a beta of 1.11. Prelude Therapeutics has a 1-year low of $0.73 and a 1-year high of $5.54. The company has a 50 day simple moving average of $3.65 and a two-hundred day simple moving average of $2.54.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. The firm had revenue of $5.64 million during the quarter, compared to the consensus estimate of $20.50 million. Equities analysts anticipate that Prelude Therapeutics will post -0.93 earnings per share for the current year.

Insider Buying and Selling at Prelude Therapeutics

In related news, Director Orbimed Advisors Llc bought 2,815,315 shares of the stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the acquisition, the director owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. This represents a 31.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Bonita purchased 2,815,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the purchase, the director owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. This represents a 31.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 63.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Prelude Therapeutics by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 272,886 shares of the company’s stock valued at $792,000 after purchasing an additional 55,318 shares in the last quarter. Acadian Asset Management LLC raised its stake in Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after purchasing an additional 43,946 shares in the last quarter. State Street Corp raised its stake in Prelude Therapeutics by 30.4% during the fourth quarter. State Street Corp now owns 127,292 shares of the company’s stock valued at $369,000 after purchasing an additional 29,700 shares in the last quarter. Sphera Funds Management LTD. purchased a new stake in Prelude Therapeutics during the fourth quarter valued at $356,000. Finally, Goldman Sachs Group Inc. raised its stake in Prelude Therapeutics by 48.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 117,477 shares of the company’s stock valued at $341,000 after purchasing an additional 38,150 shares in the last quarter. 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.