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

Key Points

• Prelude Therapeutics has a consensus analyst rating of "Hold" from five covering analysts, with three buy ratings, one hold, and one sell. The average 1-year price target is $7.67.
• The company recently reported quarterly earnings of -$0.13 per share, beating expectations of -$0.27 per share, while revenue of $4.58 million matched estimates. Analysts still expect a full-year loss of -0.62 EPS.
• Insider and institutional activity has been notable, including a large purchase by directors Orbimed Advisors LLC and David P. Bonita, each buying 2.815 million shares at $4.44 apiece. Hedge funds and other institutions own about 79.72% of the stock.

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

PRLD has been the topic of several research analyst reports. Weiss Ratings raised Prelude Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 1st. Zacks Research raised Prelude Therapeutics to a "hold" rating in a report on Tuesday, April 28th. HC Wainwright reiterated a "buy" rating on shares of Prelude Therapeutics in a research note on Wednesday. Finally, D. Boral Capital initiated coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They issued a "buy" rating and a $9.00 price target on the stock.

Prelude Therapeutics Stock Up 0.5%

Shares of Prelude Therapeutics stock opened at $4.20 on Friday. Prelude Therapeutics has a 52-week low of $0.75 and a 52-week high of $5.69. The company has a market capitalization of $334.49 million, a P/E ratio of -4.20 and a beta of 0.95. The company has a 50 day moving average of $4.38 and a 200 day moving average of $3.56.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.14. The firm had revenue of $4.58 million during the quarter, compared to analyst estimates of $4.58 million. As a group, research analysts anticipate that Prelude Therapeutics will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Orbimed Advisors Llc purchased 2,815,315 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the transaction, the director directly owned 11,808,945 shares in the company, valued at approximately $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Bonita acquired 2,815,315 shares of the firm's stock in a transaction on Tuesday, April 21st. The stock was bought at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the purchase, the director directly owned 11,808,945 shares of the company's stock, valued at $52,431,715.80. This represents a 31.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 49.20% of the company's stock.

Institutional Trading of Prelude Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC grew its stake in Prelude Therapeutics by 361.7% during the 3rd quarter. Millennium Management LLC now owns 1,147,044 shares of the company's stock worth $1,652,000 after buying an additional 898,621 shares during the last quarter. Vanguard Group Inc. increased its position in Prelude Therapeutics by 6.5% during the third quarter. Vanguard Group Inc. now owns 992,854 shares of the company's stock worth $1,430,000 after buying an additional 60,284 shares during the period. EcoR1 Capital LLC purchased a new stake in Prelude Therapeutics in the first quarter valued at approximately $3,239,000. Acadian Asset Management LLC lifted its stake in Prelude Therapeutics by 9.1% in the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company's stock valued at $405,000 after buying an additional 43,946 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Prelude Therapeutics by 1.4% in the first quarter. Renaissance Technologies LLC now owns 275,200 shares of the company's stock valued at $941,000 after acquiring an additional 3,900 shares during the period. 79.72% of the stock is owned by hedge funds and other institutional investors.

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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