Prelude Therapeutics (NASDAQ:PRLD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Prelude Therapeutics (NASDAQ:PRLD) from a hold rating to a buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Prelude Therapeutics currently has an average rating of “Hold” and a consensus price target of $7.67.

Prelude Therapeutics Price Performance

PRLD opened at $5.30 on Friday. The firm has a market cap of $422.96 million, a P/E ratio of -7.26 and a beta of 0.97. Prelude Therapeutics has a 1-year low of $0.98 and a 1-year high of $6.83. The company has a 50 day simple moving average of $5.07 and a two-hundred day simple moving average of $4.33.

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

Hedge Funds Weigh In On Prelude Therapeutics

Several institutional investors have recently bought and sold shares of PRLD. EcoR1 Capital LLC purchased a new stake in shares of Prelude Therapeutics in the first quarter worth about $3,239,000. ADAR1 Capital Management LLC purchased a new position in Prelude Therapeutics during the 1st quarter valued at approximately $523,000. BlackRock Inc. purchased a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $9,581,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Prelude Therapeutics in the 2nd quarter worth approximately $669,000. Finally, Hsbc Holdings PLC bought a new stake in Prelude Therapeutics in the 2nd quarter worth approximately $74,000. 79.72% of the stock is 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.