Prelude Therapeutics (NASDAQ:PRLD) Trading Down 0.9% – Should You Sell?

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) were down 0.9% during trading on Monday . The stock traded as low as $2.04 and last traded at $2.15. Approximately 202,870 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 426,020 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PRLD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen downgraded Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Prelude Therapeutics has an average rating of “Hold” and an average price target of $4.00.

Prelude Therapeutics Trading Down 0.9%

The stock’s 50-day moving average price is $2.12 and its two-hundred day moving average price is $1.58. The stock has a market capitalization of $135.17 million, a P/E ratio of -1.46 and a beta of 0.88.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.09. The company had revenue of $6.50 million during the quarter. On average, equities research analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted 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 valued at $26,000 after purchasing an additional 21,330 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Prelude Therapeutics by 9.1% in the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after purchasing an additional 43,946 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter valued at approximately $39,000. XTX Topco Ltd boosted its holdings in Prelude Therapeutics by 72.4% in 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 during the period. Finally, Marshall Wace LLP purchased a new position in Prelude Therapeutics in the 2nd quarter valued at approximately $34,000. 79.72% of the stock is currently owned by 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.