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

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) have been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on 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 analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, September 6th.

Prelude Therapeutics Stock Down 1.7%

Shares of Prelude Therapeutics stock opened at $4.59 on Friday. Prelude Therapeutics has a 52 week low of $0.98 and a 52 week high of $6.83. The business has a 50 day moving average price of $5.06 and a 200-day moving average price of $4.37. The company has a market cap of $366.28 million, a PE ratio of -6.29 and a beta of 0.97.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.70 million. As a group, research analysts anticipate that Prelude Therapeutics will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

Several institutional investors have recently modified their holdings of PRLD. Spark Investment Management LLC bought a new stake in Prelude Therapeutics during the second quarter worth $56,000. GSA Capital Partners LLP bought a new position in Prelude Therapeutics in the 2nd quarter valued at $68,000. Hsbc Holdings PLC purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter valued at $74,000. Bank of America Corp DE bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth $127,000. Finally, Deutsche Bank AG bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth $148,000. 79.72% of the stock is owned by institutional investors.

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.