Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives $7.67 Consensus Price Target from Analysts

Prelude Therapeutics Incorporated (NASDAQ:PRLD) has received a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.6667.

A number of equities research analysts have weighed in on PRLD shares. HC Wainwright restated a “buy” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 15th. D. Boral Capital assumed coverage on Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 price objective on the stock. Zacks Research raised Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in shares of Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after purchasing an additional 21,330 shares during the last quarter. Marshall Wace LLP purchased a new position in Prelude Therapeutics in the 2nd quarter worth $34,000. XTX Topco Ltd lifted its stake in Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after purchasing an additional 17,873 shares during the last quarter. Shay Capital LLC bought a new stake in Prelude Therapeutics in the second quarter worth $61,000. Finally, Jane Street Group LLC purchased a new stake in Prelude Therapeutics during the second quarter valued at about $74,000. 79.72% of the stock is currently owned by institutional investors.

Prelude Therapeutics Price Performance

Shares of NASDAQ:PRLD opened at $4.06 on Friday. The company’s fifty day moving average price is $4.36 and its 200-day moving average price is $3.57. The firm has a market capitalization of $323.34 million, a price-to-earnings ratio of -4.06 and a beta of 0.95. Prelude Therapeutics has a one year low of $0.75 and a one year high of $5.69.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The company had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. As a group, equities research analysts expect that Prelude Therapeutics will post -0.62 EPS for the current year.

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.