Prelude Therapeutics (NASDAQ:PRLD) Stock Price Down 1.1% – What’s Next?

Prelude Therapeutics Incorporated (NASDAQ:PRLD) shares traded down 1.1% on Tuesday . The stock traded as low as $4.35 and last traded at $4.39. 325,442 shares changed hands during trading, a decline of 42% from the average session volume of 556,848 shares. The stock had previously closed at $4.44.

Analyst Ratings Changes

A number of research analysts have issued reports on PRLD shares. D. Boral Capital began coverage on Prelude Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $9.00 target price on the stock. Zacks Research upgraded shares of Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Finally, HC Wainwright boosted their target price on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.67.

Prelude Therapeutics Stock Down 1.1%

The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $3.53. The stock has a market capitalization of $349.62 million, a price-to-earnings ratio of -4.39 and a beta of 0.95.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly 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 firm had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. Sell-side analysts forecast that Prelude Therapeutics Incorporated will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prelude Therapeutics news, Director Orbimed Advisors Llc bought 2,815,315 shares of Prelude Therapeutics stock in a transaction on Tuesday, April 21st. The shares were purchased at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the acquisition, the director directly owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. The trade was a 31.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Bonita purchased 2,815,315 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was acquired at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the transaction, the director owned 11,808,945 shares in the company, valued at approximately $52,431,715.80. This trade represents 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 Trading of Prelude Therapeutics

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after purchasing an additional 21,330 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Prelude Therapeutics by 9.1% in the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after buying an additional 43,946 shares during the last quarter. XTX Topco Ltd grew its position in shares of Prelude Therapeutics by 72.4% in the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after buying an additional 17,873 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at about $34,000. Finally, Jane Street Group LLC acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at about $74,000. Institutional investors own 79.72% of the company’s stock.

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.