Prelude Therapeutics Incorporated (NASDAQ:PRLD) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst sentiment is mixed: Five brokerages give Prelude Therapeutics an average “Hold” rating, with three buys, one hold and one sell. The average 12-month price target is $7.67, above the reported share price of $5.46.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 79.72% of the company, with BlackRock and several other firms recently establishing new positions.
• Recent earnings exceeded expectations: Prelude reported a quarterly loss of $0.14 per share versus the consensus estimate of a $0.20 loss, while revenue matched forecasts at $5.7 million. The clinical-stage company is advancing oncology programs including Phase 1 candidate PRT2527.

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) have been given an average rating of "Hold" by the five brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.6667.

PRLD has been the subject of several recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $8.00 price objective on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Prelude Therapeutics from a "hold" rating to a "buy" rating in a research note on Sunday.

Institutional Investors Weigh In On Prelude Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. EcoR1 Capital LLC purchased a new position in Prelude Therapeutics in the first quarter valued at approximately $3,239,000. ADAR1 Capital Management LLC purchased a new stake in shares of Prelude Therapeutics during the 1st quarter worth approximately $523,000. BlackRock Inc. purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $9,581,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Prelude Therapeutics in the 2nd quarter valued at $669,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Prelude Therapeutics in the 2nd quarter valued at $68,000. Hedge funds and other institutional investors own 79.72% of the company's stock.

Prelude Therapeutics Stock Performance

PRLD stock opened at $5.46 on Friday. The company's 50 day moving average price is $5.06 and its 200 day moving average price is $4.27. The firm has a market capitalization of $435.71 million, a price-to-earnings ratio of -7.48 and a beta of 0.97. Prelude Therapeutics has a fifty-two week low of $0.98 and a fifty-two week high of $6.83.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.06. The firm had revenue of $5.70 million during the quarter, compared to analysts' expectations of $5.70 million. Equities analysts forecast that Prelude Therapeutics will post -0.62 EPS for the current fiscal 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.

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