BlackRock Inc. purchased a new stake in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,797,501 shares of the company's stock, valued at approximately $9,581,000. BlackRock Inc. owned approximately 2.26% of Prelude Therapeutics at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. EcoR1 Capital LLC purchased a new stake in Prelude Therapeutics in the 1st quarter worth approximately $3,239,000. ADAR1 Capital Management LLC purchased a new position in shares of Prelude Therapeutics during the 1st quarter valued at $523,000. Shay Capital LLC bought a new position in shares of Prelude Therapeutics in the second quarter worth $61,000. Marshall Wace LLP bought a new position in shares of Prelude Therapeutics in the second quarter worth $34,000. Finally, XTX Topco Ltd raised its position in shares of 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 buying an additional 17,873 shares in the last quarter. 79.72% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on PRLD shares. Wall Street Zen downgraded shares of Prelude Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. HC Wainwright reissued a "buy" rating and issued a $8.00 price target on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $7.67.
Read Our Latest Stock Analysis on PRLD
Prelude Therapeutics Stock Up 4.0%
Shares of PRLD opened at $5.46 on Friday. The stock has a market cap of $435.71 million, a P/E ratio of -7.48 and a beta of 0.97. The business's 50 day moving average price is $5.06 and its 200-day moving average price is $4.27. Prelude Therapeutics Incorporated has a 52 week low of $0.98 and a 52 week high of $6.83.
Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.06. The firm had revenue of $5.70 million for the quarter, compared to analysts' expectations of $5.70 million. On average, equities analysts anticipate that Prelude Therapeutics Incorporated will post -0.62 EPS for the current year.
Prelude Therapeutics Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PRLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report).
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