Prelude Therapeutics (NASDAQ:PRLD) Downgraded to “Hold” Rating by Wall Street Zen

Prelude Therapeutics (NASDAQ:PRLD) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

PRLD has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, D. Boral Capital began coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They set a “buy” rating and a $9.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.67.

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock traded down $0.87 during trading hours on Friday, reaching $5.47. 725,051 shares of the company were exchanged, compared to its average volume of 496,097. Prelude Therapeutics has a 1 year low of $0.98 and a 1 year high of $6.83. The stock’s fifty day moving average is $4.94 and its 200 day moving average is $4.16. The firm has a market cap of $436.51 million, a PE ratio of -7.49 and a beta of 0.96.

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

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds have recently added to or reduced their stakes in PRLD. AQR Capital Management LLC raised its holdings in Prelude Therapeutics by 170.7% during the first 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 in the last quarter. Acadian Asset Management LLC boosted its holdings 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 in the last quarter. XTX Topco Ltd boosted its holdings 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 in the last quarter. Marshall Wace LLP acquired a new position in shares of Prelude Therapeutics in the 2nd quarter valued at $34,000. Finally, Jane Street Group LLC purchased a new position in shares of Prelude Therapeutics in the 2nd quarter valued at $74,000. 79.72% of the stock is currently 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.