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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has earned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.6667.

A number of research firms recently commented on PRLD. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Zacks Research raised shares of Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen upgraded shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. D. Boral Capital started coverage on shares of Prelude Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th.

Prelude Therapeutics Stock Performance

Shares of PRLD stock opened at $5.75 on Wednesday. The stock has a fifty day simple moving average of $4.62 and a two-hundred day simple moving average of $3.94. The firm has a market capitalization of $457.93 million, a PE ratio of -7.88 and a beta of 0.96. Prelude Therapeutics has a 52-week low of $0.85 and a 52-week high of $5.91.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $5.70 million during the quarter, compared to analysts’ expectations of $5.70 million. On average, sell-side analysts forecast that Prelude Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRLD. GSA Capital Partners LLP purchased a new stake in shares of Prelude Therapeutics in the second quarter worth about $68,000. Hsbc Holdings PLC purchased a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $74,000. Bank of America Corp DE purchased a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $127,000. Deutsche Bank AG bought a new stake in Prelude Therapeutics in the 2nd quarter worth approximately $148,000. Finally, State of Wyoming bought a new stake in Prelude Therapeutics in the 2nd quarter worth approximately $175,000. Hedge funds and other 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.