Prelude Therapeutics Incorporated (NASDAQ:PRLD) Given Average Recommendation of “Hold” by Analysts

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

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

Insider Buying and Selling

In other Prelude Therapeutics news, Director Orbimed Advisors Llc purchased 2,815,315 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was bought at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the completion of the acquisition, the director directly owned 11,808,945 shares in the company, valued at $52,431,715.80. This represents a 31.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Bonita acquired 2,815,315 shares of Prelude Therapeutics stock in a transaction dated Tuesday, April 21st. The stock was acquired 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 $52,431,715.80. This trade represents a 31.30% increase in their position. The SEC filing for this purchase provides additional information. 49.20% of the stock is owned by insiders.

Institutional Trading of Prelude Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of 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 last quarter. Vanguard Group Inc. grew its position in Prelude Therapeutics by 6.5% during the third quarter. Vanguard Group Inc. now owns 992,854 shares of the company’s stock worth $1,430,000 after buying an additional 60,284 shares in the last quarter. EcoR1 Capital LLC bought a new position in Prelude Therapeutics during the first quarter valued at about $3,239,000. Acadian Asset Management LLC increased its stake in Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after acquiring an additional 43,946 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Prelude Therapeutics by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company’s stock valued at $941,000 after acquiring an additional 3,900 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Prelude Therapeutics Stock Down 5.5%

NASDAQ:PRLD opened at $3.93 on Friday. Prelude Therapeutics has a 12 month low of $0.75 and a 12 month high of $5.54. The firm has a market cap of $312.99 million, a price-to-earnings ratio of -3.93 and a beta of 1.11. The company’s 50 day moving average is $4.15 and its 200-day moving average is $2.90.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Research analysts predict 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.