Prelude Therapeutics (NASDAQ:PRLD) Rating Lowered to Hold at Wall Street Zen

Prelude Therapeutics (NASDAQ:PRLD) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

PRLD has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Prelude Therapeutics currently has a consensus rating of “Hold” and an average price target of $4.00.

Prelude Therapeutics Stock Down 15.8%

Shares of NASDAQ PRLD opened at $1.81 on Friday. Prelude Therapeutics has a 12 month low of $0.61 and a 12 month high of $4.22. The company has a market cap of $113.79 million, a P/E ratio of -1.23 and a beta of 0.90. The business’s 50 day moving average is $1.97 and its two-hundred day moving average is $1.45.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.09. The firm had revenue of $6.50 million during the quarter. Sell-side analysts expect that Prelude Therapeutics will post -1.81 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after acquiring an additional 21,330 shares during the last quarter. Marshall Wace LLP bought a new position in Prelude Therapeutics during the 2nd quarter worth $34,000. XTX Topco Ltd grew its position in shares of Prelude Therapeutics by 72.4% in the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after buying an additional 17,873 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at about $39,000. Finally, Shay Capital LLC bought a new position in shares of Prelude Therapeutics during the second quarter worth about $61,000. 79.72% of the stock is owned by institutional investors and hedge funds.

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.