EcoR1 Capital LLC Makes New $3.24 Million Investment in Prelude Therapeutics Incorporated $PRLD

Key Points

• EcoR1 Capital acquired 947,049 shares of Prelude Therapeutics, worth approximately $3.24 million, giving it about a 1.5% stake and making PRLD its 25th-largest holding.
• Institutional investors own approximately 79.72% of Prelude Therapeutics, with several hedge funds recently initiating or increasing positions.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a $7.67 price target, while PRLD recently traded at $3.89 after reporting a quarterly loss of $0.13 per share, better than estimates.

EcoR1 Capital LLC purchased a new position in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 947,049 shares of the company's stock, valued at approximately $3,239,000. Prelude Therapeutics comprises approximately 0.1% of EcoR1 Capital LLC's portfolio, making the stock its 25th biggest holding. EcoR1 Capital LLC owned approximately 1.50% of Prelude Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in Prelude Therapeutics by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company's stock worth $941,000 after purchasing an additional 3,900 shares during the period. Dimensional Fund Advisors LP bought a new stake in Prelude Therapeutics during the first quarter valued at about $120,000. XTX Topco Ltd grew its holdings in Prelude Therapeutics by 222.0% during the fourth quarter. XTX Topco Ltd now owns 50,159 shares of the company's stock valued at $145,000 after purchasing an additional 34,581 shares during the period. Sphera Funds Management LTD. purchased a new stake in Prelude Therapeutics in the fourth quarter worth about $356,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Prelude Therapeutics in the fourth quarter worth about $212,000. Institutional investors own 79.72% of the company's stock.

Wall Street Analysts Forecast Growth

PRLD has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating on shares of Prelude Therapeutics in a research note on Wednesday, July 15th. D. Boral Capital assumed coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They set a "buy" rating and a $9.00 target price on the stock. Zacks Research raised shares of Prelude Therapeutics to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Prelude Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Prelude Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.67.

Prelude Therapeutics Stock Up 1.6%

NASDAQ PRLD opened at $3.89 on Tuesday. The firm has a market cap of $309.82 million, a price-to-earnings ratio of -3.89 and a beta of 0.95. The business has a 50-day moving average price of $4.30 and a 200-day moving average price of $3.62. Prelude Therapeutics Incorporated has a twelve month low of $0.75 and a twelve month high of $5.69.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.14. The business had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. Research analysts expect that Prelude Therapeutics Incorporated will post -0.62 EPS for the current fiscal 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.

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