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

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.6667.

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

Insiders Place Their Bets

In related news, Director David P. Bonita bought 2,815,315 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Orbimed Advisors Llc bought 2,815,315 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were bought at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the completion of the transaction, the director directly owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. This trade represents a 31.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 49.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRLD. EcoR1 Capital LLC acquired a new position in Prelude Therapeutics during the first quarter valued at $3,239,000. Millennium Management LLC raised its position in Prelude Therapeutics by 361.7% during the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock valued at $1,652,000 after buying an additional 898,621 shares during the period. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the fourth quarter valued at $794,000. ADAR1 Capital Management LLC acquired a new position in Prelude Therapeutics during the first quarter valued at $523,000. Finally, Sphera Funds Management LTD. acquired a new position in Prelude Therapeutics during the fourth quarter valued at $356,000. 79.72% of the stock is owned by institutional investors and hedge funds.

Prelude Therapeutics Stock Performance

Shares of PRLD stock opened at $4.32 on Tuesday. Prelude Therapeutics has a 1 year low of $0.75 and a 1 year high of $5.54. The stock has a fifty day moving average of $4.36 and a two-hundred day moving average of $3.20. The firm has a market capitalization of $344.04 million, a PE ratio of -4.32 and a beta of 1.00.

Prelude Therapeutics (NASDAQ:PRLD) last announced 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 business had revenue of $4.58 million for the quarter, compared to analyst estimates of $4.58 million. Equities research analysts predict that Prelude Therapeutics will post -0.93 earnings per share for the current fiscal year.

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.