Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Update

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 2,074,354 shares, a growth of 23.7% from the January 15th total of 1,677,134 shares. Based on an average daily volume of 433,527 shares, the days-to-cover ratio is presently 4.8 days. Approximately 9.1% of the shares of the company are short sold. Approximately 9.1% of the shares of the company are short sold. Based on an average daily volume of 433,527 shares, the days-to-cover ratio is presently 4.8 days.

Analysts Set New Price Targets

Several research firms have recently commented on PRLD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen lowered Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Two research analysts have rated the stock with a Buy rating and one has issued 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.

Institutional Trading of Prelude Therapeutics

A number of hedge funds have recently modified their holdings of PRLD. Millennium Management LLC raised its position in Prelude Therapeutics by 361.7% during the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock valued at $1,652,000 after acquiring an additional 898,621 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Prelude Therapeutics by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 992,854 shares of the company’s stock worth $1,430,000 after purchasing an additional 60,284 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after purchasing an additional 43,946 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Prelude Therapeutics during the 4th quarter valued at approximately $794,000. Finally, Geode Capital Management LLC lifted its stake in shares of Prelude Therapeutics by 25.4% in the 4th quarter. Geode Capital Management LLC now owns 272,886 shares of the company’s stock valued at $792,000 after purchasing an additional 55,318 shares during the period. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock opened at $2.23 on Tuesday. The stock has a market cap of $140.20 million, a PE ratio of -1.52 and a beta of 0.88. The firm has a fifty day moving average price of $2.19 and a 200 day moving average price of $1.63. Prelude Therapeutics has a 1 year low of $0.61 and a 1 year high of $4.22.

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.