Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives Consensus Rating of “Hold” from Brokerages

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has been given an average recommendation of “Hold” by the five brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.6667.

A number of research firms have issued reports on PRLD. Citizens Jmp boosted their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 11th. D. Boral Capital began coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 price target on the stock. 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. Zacks Research upgraded shares of Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. Finally, HC Wainwright boosted their price target on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Monday, April 27th.

Prelude Therapeutics Trading Up 11.5%

PRLD stock opened at $4.08 on Friday. The firm’s 50-day moving average price is $4.22 and its two-hundred day moving average price is $2.98. Prelude Therapeutics has a 12-month low of $0.75 and a 12-month high of $5.54. The stock has a market capitalization of $324.93 million, a price-to-earnings ratio of -4.08 and a beta of 1.00.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. The firm had revenue of $4.58 million during the quarter, compared to analysts’ expectations of $4.58 million. Equities analysts predict that Prelude Therapeutics will post -0.93 EPS for the current year.

Insider Activity

In related news, Director David P. Bonita purchased 2,815,315 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average price of $4.44 per share, for a total transaction 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 represents a 31.30% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Orbimed Advisors Llc purchased 2,815,315 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 49.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of PRLD. EcoR1 Capital LLC purchased a new position in shares of Prelude Therapeutics during the first quarter valued at about $3,239,000. Millennium Management LLC grew its holdings in Prelude Therapeutics by 361.7% in the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock worth $1,652,000 after purchasing an additional 898,621 shares during the period. Marshall Wace LLP purchased a new stake in Prelude Therapeutics in the fourth quarter worth about $794,000. ADAR1 Capital Management LLC purchased a new stake in Prelude Therapeutics in the first quarter worth about $523,000. Finally, Sphera Funds Management LTD. purchased a new stake in Prelude Therapeutics in the fourth quarter worth about $356,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

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.