Prelude Therapeutics Incorporated (NASDAQ:PRLD) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Prelude Therapeutics, with one sell, one hold and three buy recommendations. The average 12-month price target is $7.67.
• Prelude reported quarterly EPS of -$0.14, beating the consensus estimate of -$0.20, while revenue of $5.70 million exceeded expectations of $4.78 million.
• The stock was reported to be trading up 10.1%, with shares opening at $5.32. Institutional ownership stands at 79.72%, led by a new $9.6 million BlackRock position.

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) have been assigned an average rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.6667.

Several research analysts have recently weighed in on PRLD shares. Zacks Research upgraded shares of Prelude Therapeutics to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. D. Boral Capital assumed coverage on Prelude Therapeutics in a report on Monday, May 4th. They set a "buy" rating and a $9.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Prelude Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th.

Prelude Therapeutics Trading Up 10.1%

Shares of PRLD opened at $5.32 on Wednesday. The company has a market cap of $423.68 million, a price-to-earnings ratio of -5.32 and a beta of 0.96. Prelude Therapeutics has a 1-year low of $0.75 and a 1-year high of $5.85. The company's fifty day simple moving average is $4.45 and its 200 day simple moving average is $3.81.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. The firm had revenue of $5.70 million for the quarter, compared to the consensus estimate of $4.78 million. As a group, research analysts forecast that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Prelude Therapeutics in the 2nd quarter valued at $9,581,000. Deutsche Bank AG bought a new position in Prelude Therapeutics during the second quarter worth $148,000. Bank of New York Mellon Corp acquired a new position in shares of Prelude Therapeutics in the second quarter valued at $363,000. State of Wyoming acquired a new position in shares of Prelude Therapeutics in the second quarter valued at $175,000. Finally, GSA Capital Partners LLP bought a new position in shares of Prelude Therapeutics in the second quarter valued at about $68,000. 79.72% of the stock is owned by institutional investors and hedge funds.

About Prelude Therapeutics

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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