ADAR1 Capital Management LLC Buys Shares of 900,900 Prelude Therapeutics Incorporated $PRLD

Key Points

• ADAR1 Capital Management acquired 900,900 shares of Prelude Therapeutics, valued at approximately $4.8 million and representing about 1.13% of the company. Institutional investors and hedge funds collectively own 79.72% of PRLD.
• Analyst views remain mixed: three analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. MarketBeat’s consensus rating is Hold, with an average price target of $7.67.
• Prelude Therapeutics reported a quarterly loss of $0.14 per share, better than the estimated $0.20 loss, on revenue of $5.7 million. Shares opened at $6.59, near their 52-week high of $6.83, while the company continues developing targeted cancer therapies including Phase 1 candidate PRT2527.

ADAR1 Capital Management LLC acquired a new stake in Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 900,900 shares of the company's stock, valued at approximately $4,802,000. ADAR1 Capital Management LLC owned about 1.13% of Prelude Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in Prelude Therapeutics by 170.7% in the first 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. XTX Topco Ltd boosted its holdings in Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company's stock worth $34,000 after buying an additional 17,873 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Prelude Therapeutics during the 2nd quarter worth about $34,000. Shay Capital LLC acquired a new position in shares of Prelude Therapeutics during the 2nd quarter worth about $61,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Prelude Therapeutics in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 79.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PRLD shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Zacks Research raised shares of Prelude Therapeutics to a "hold" rating in a research note on Tuesday, April 28th. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Prelude Therapeutics in a report on Wednesday, July 29th. D. Boral Capital started coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They set a "buy" rating and a $9.00 price target on the stock. Finally, Wall Street Zen raised shares of Prelude Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Prelude Therapeutics has a consensus rating of "Hold" and an average target price of $7.67.

Prelude Therapeutics Trading Up 1.9%

Shares of NASDAQ PRLD opened at $6.59 on Wednesday. The company has a fifty day moving average price of $4.83 and a 200 day moving average price of $4.09. The firm has a market cap of $525.88 million, a PE ratio of -9.03 and a beta of 0.96. Prelude Therapeutics Incorporated has a 1-year low of $0.98 and a 1-year high of $6.83.

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

Prelude Therapeutics 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.