Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stock Has Average Target Price of $8.75

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.75.

Several analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Citigroup restated a “market outperform” rating on shares of Prelude Therapeutics in a report on Wednesday, October 14th. JPMorgan Chase & Co. began coverage on shares of Prelude Therapeutics in a research report on Thursday, September 17th. They issued an “overweight” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th.

Hedge Funds Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in shares of Prelude Therapeutics during the second quarter worth $317,000. Spark Investment Management LLC purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter valued at $56,000. Bank of America Corp DE acquired a new stake in shares of Prelude Therapeutics in the 2nd quarter worth $127,000. ADAR1 Capital Management LLC acquired a new stake in shares of Prelude Therapeutics in the 2nd quarter worth $4,802,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Prelude Therapeutics in the 2nd quarter worth $74,000. 79.72% of the stock is owned by hedge funds and other institutional investors.

Prelude Therapeutics Price Performance

Shares of NASDAQ PRLD opened at $3.63 on Monday. Prelude Therapeutics has a 1-year low of $1.17 and a 1-year high of $6.83. The business has a fifty day moving average price of $4.64 and a 200 day moving average price of $4.54. The stock has a market capitalization of $289.67 million, a P/E ratio of -4.97 and a beta of 0.97.

Prelude Therapeutics (NASDAQ:PRLD) last posted its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, equities research analysts anticipate that Prelude Therapeutics will post -0.57 earnings per share for the current fiscal year.

About Prelude Therapeutics

Prelude Therapeutics Incorporated is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights into cancer biology to design small-molecule therapies intended to target vulnerabilities in tumor cells while potentially improving selectivity over healthy tissue.

Prelude’s research and development programs have included targeted therapies aimed at cancer-related proteins and signaling pathways, including cyclin-dependent kinase 9 (CDK9) and other regulators of tumor growth and survival.