Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Prelude Therapeutics has a “Moderate Buy” consensus rating from six analysts: four recommend buying, one recommends holding, and one recommends selling. The average 12-month price target is $8.75, with targets including JPMorgan’s $12.00 and HC Wainwright’s $8.00.
• PRLD opened at $3.91, down 1.3%, with a market capitalization of approximately $312 million. The stock has traded between $1.15 and $6.83 over the past year.
• Institutional investors own 79.72% of the company, with BlackRock and several investment firms recently establishing positions. Prelude reported quarterly EPS of $(0.14), beating the consensus estimate of $(0.20), on $5.7 million in revenue.

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $8.75.

PRLD has been the topic of several recent research reports. JPMorgan Chase & Co. began coverage on shares of Prelude Therapeutics in a report on Thursday, September 17th. They issued an "overweight" rating and a $12.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Prelude Therapeutics in a report on Wednesday, July 29th. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 price target on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Prelude Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, September 19th.

Prelude Therapeutics Stock Down 1.3%

PRLD opened at $3.91 on Thursday. The stock's fifty day moving average is $5.02 and its two-hundred day moving average is $4.50. The company has a market capitalization of $312.02 million, a P/E ratio of -5.36 and a beta of 0.97. Prelude Therapeutics has a 52 week low of $1.15 and a 52 week high of $6.83.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.06. The company had revenue of $5.70 million for the quarter, compared to analysts' expectations of $5.70 million. Equities analysts anticipate that Prelude Therapeutics will post -0.61 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Prelude Therapeutics in the 2nd quarter valued at about $9,581,000. EcoR1 Capital LLC acquired a new position in shares of Prelude Therapeutics during the first quarter worth about $3,239,000. ADAR1 Capital Management LLC purchased a new position in Prelude Therapeutics in the 2nd quarter worth approximately $4,802,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Prelude Therapeutics during the 2nd quarter valued at $669,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Prelude Therapeutics during the second quarter valued at about $363,000. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

Prelude Therapeutics Company Profile

Prelude Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company's research is centered on small-molecule therapies designed to target biological mechanisms that cancer cells depend on, including epigenetic regulators and other proteins involved in tumor growth and survival.

Prelude's development programs have included PRT2527, a selective cyclin-dependent kinase 9 (CDK9) inhibitor; PRT3789, a SMARCA2 protein degrader; and PRT1419, an inhibitor of the MCL1 protein.

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