Prelude Therapeutics (NASDAQ:PRLD) Given New $8.00 Price Target at HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD) had its target price hoisted by HC Wainwright from $5.00 to $8.00 in a research report report published on Monday, MarketBeat.com reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on PRLD. Wall Street Zen lowered Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Thursday, January 22nd. Finally, Citizens Jmp increased their price target on Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research report on Wednesday, March 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Prelude Therapeutics currently has an average rating of “Hold” and a consensus price target of $7.00.

Prelude Therapeutics Stock Down 3.8%

NASDAQ:PRLD opened at $4.52 on Monday. The business’s 50-day moving average price is $3.51 and its 200 day moving average price is $2.46. The firm has a market cap of $284.76 million, a P/E ratio of -3.50 and a beta of 0.73. Prelude Therapeutics has a 52-week low of $0.73 and a 52-week high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. The firm had revenue of $5.64 million for the quarter, compared to analyst estimates of $20.50 million.

Insiders Place Their Bets

In related news, Director David P. Bonita purchased 2,815,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was acquired 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Orbimed Advisors Llc purchased 2,815,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was bought at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director directly owned 11,808,945 shares in the company, valued at $52,431,715.80. This trade represents a 31.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 63.90% of the company’s stock.

Institutional Investors Weigh In On Prelude Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in Prelude Therapeutics by 361.7% during the 3rd quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock worth $1,652,000 after acquiring an additional 898,621 shares during the period. Vanguard Group Inc. boosted its position in 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 acquiring an additional 60,284 shares during the period. Acadian Asset Management LLC boosted its position in Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after acquiring an additional 43,946 shares during the period. Marshall Wace LLP acquired a new stake in Prelude Therapeutics during the 4th quarter worth about $794,000. Finally, Geode Capital Management LLC boosted its position in Prelude Therapeutics by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 272,886 shares of the company’s stock worth $792,000 after acquiring an additional 55,318 shares during the period. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.