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

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $7.6667.

Several research firms have commented on PRLD. HC Wainwright reaffirmed a “buy” rating on shares of Prelude Therapeutics in a research note on Wednesday. D. Boral Capital started coverage on Prelude Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $9.00 target price on the stock. Zacks Research raised Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st.

Prelude Therapeutics Stock Performance

NASDAQ PRLD opened at $4.20 on Friday. The firm’s fifty day moving average is $4.38 and its two-hundred day moving average is $3.56. Prelude Therapeutics has a one year low of $0.75 and a one year high of $5.69. The firm has a market cap of $334.49 million, a PE ratio of -4.20 and a beta of 0.95.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate 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. Research analysts predict that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Prelude Therapeutics

In other news, Director David P. Bonita acquired 2,815,315 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orbimed Advisors Llc acquired 2,815,315 shares of the business’s stock in a transaction on 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 transaction, the director owned 11,808,945 shares in the company, valued at $52,431,715.80. The trade was a 31.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 49.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position 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 purchasing an additional 21,330 shares during the period. Dimensional Fund Advisors LP acquired a new position in Prelude Therapeutics during the 1st quarter worth approximately $120,000. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the 2nd quarter worth approximately $34,000. XTX Topco Ltd raised its stake in shares of Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after buying an additional 17,873 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Prelude Therapeutics by 476.3% during the 1st quarter. Bank of America Corp DE now owns 56,525 shares of the company’s stock worth $193,000 after buying an additional 46,717 shares in the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.

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.