Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives $7.67 Consensus Target Price from Brokerages

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.6667.

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a research note on Tuesday, April 28th. HC Wainwright restated a “buy” rating on shares of Prelude Therapeutics in a report on Wednesday, July 15th. Weiss Ratings raised 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 raised shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, D. Boral Capital began 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.

Prelude Therapeutics Stock Down 2.5%

Shares of NASDAQ PRLD opened at $3.83 on Friday. Prelude Therapeutics has a twelve month low of $0.75 and a twelve month high of $5.69. The firm has a market cap of $305.04 million, a PE ratio of -3.83 and a beta of 0.95. The business has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $3.60.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly 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 firm had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. On average, research analysts expect that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Prelude Therapeutics by 170.7% in the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after acquiring an additional 21,330 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter worth $34,000. XTX Topco Ltd boosted its position in Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after purchasing an additional 17,873 shares in the last quarter. Shay Capital LLC bought a new stake in Prelude Therapeutics during the second quarter valued at about $61,000. Finally, Jane Street Group LLC purchased a new position in Prelude Therapeutics in the second quarter valued at about $74,000. Institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

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.