Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives Average Recommendation of “Hold” from Brokerages

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has earned a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.6667.

Several equities analysts recently issued reports on PRLD shares. Weiss Ratings raised shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. D. Boral Capital started coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They set a “buy” rating and a $9.00 price objective on the stock. Citizens Jmp upped their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 11th. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. Finally, HC Wainwright upped their price objective on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, April 27th.

Insider Activity at Prelude Therapeutics

In related news, Director Orbimed Advisors Llc purchased 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the transaction, the director owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. This trade represents a 31.30% increase in their position. The purchase 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 company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director directly 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 position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 49.20% of the company’s stock.

Hedge Funds Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the fourth quarter worth approximately $794,000. State Street Corp increased its position in Prelude Therapeutics by 30.4% during the fourth quarter. State Street Corp now owns 127,292 shares of the company’s stock worth $369,000 after purchasing an additional 29,700 shares during the last quarter. Sphera Funds Management LTD. acquired a new position in Prelude Therapeutics during the fourth quarter worth approximately $356,000. Goldman Sachs Group Inc. increased its position in Prelude Therapeutics by 48.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 117,477 shares of the company’s stock worth $341,000 after purchasing an additional 38,150 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in Prelude Therapeutics during the fourth quarter worth approximately $212,000. Institutional investors and hedge funds own 79.72% of the company’s stock.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $4.38 on Tuesday. The company has a market capitalization of $348.82 million, a price-to-earnings ratio of -4.38 and a beta of 1.00. The company’s 50 day simple moving average is $4.34 and its 200 day simple moving average is $3.27. Prelude Therapeutics has a 1 year low of $0.75 and a 1 year high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. The firm had revenue of $4.58 million for the quarter, compared to analysts’ expectations of $4.58 million. Equities analysts expect that Prelude Therapeutics will post -0.93 EPS for the current fiscal year.

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.