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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has received an average rating of “Hold” from the five ratings firms that are covering the firm, Marketbeat 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 1-year price objective among brokerages that have covered the stock in the last year is $7.6667.

Several analysts have recently commented on the company. HC Wainwright increased their target price on Prelude Therapeutics from $5.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, April 27th. D. Boral Capital assumed 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. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. Finally, Citizens Jmp increased their target price on Prelude Therapeutics from $3.00 to $6.00 and gave the stock a “market outperform” rating in a report on Wednesday, March 11th.

Prelude Therapeutics Stock Performance

Shares of PRLD stock opened at $4.86 on Monday. The stock’s fifty day moving average is $3.78 and its 200-day moving average is $2.61. The stock has a market capitalization of $306.18 million, a PE ratio of -3.77 and a beta of 1.11. Prelude Therapeutics has a 52 week low of $0.75 and a 52 week high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.13. The business had revenue of $5.64 million for the quarter, compared to the consensus estimate of $20.50 million. As a group, analysts forecast that Prelude Therapeutics will post -0.93 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Orbimed Advisors Llc 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 price of $4.44 per share, for a total transaction of $12,499,998.60. Following the completion of the acquisition, the director directly owned 11,808,945 shares in the company, valued at approximately $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was purchased at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following the acquisition, the director owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 49.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. 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 acquiring an additional 17,873 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Prelude Therapeutics by 170.7% in the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after acquiring an additional 21,330 shares during the last quarter. Shay Capital LLC boosted its holdings in Prelude Therapeutics by 33.3% in the third quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock valued at $144,000 after acquiring an additional 25,000 shares during the last quarter. State Street Corp boosted its holdings in Prelude Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 127,292 shares of the company’s stock valued at $369,000 after acquiring an additional 29,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Prelude Therapeutics in the first quarter valued at about $120,000. 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.