Prelude Therapeutics (NASDAQ:PRLD) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Prelude Therapeutics (PRLD) to a "hold," and the stock carries a consensus rating of Hold with an average price target of $7; analyst views are mixed (HC Wainwright raised its PT to $8 with a buy, Citizens Jmp to $6/outperform, while Weiss Ratings remains a sell).
• Large insider purchases: Director David P. Bonita and Orbimed Advisors LLC each bought 2,815,315 shares at $4.44 (≈$12.5M each), increasing insider ownership to 63.9%.
• Recent results showed EPS of ($0.20) beating estimates of ($0.33) but revenue of $5.64M missing the $20.5M consensus; the stock opened at $4.27 with a market cap of about $269M and a 12‑month range of $0.73–$5.54.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) was upgraded by investment analysts at Zacks Research to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. HC Wainwright increased their price objective on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the stock a "buy" rating in a report on Monday. Citizens Jmp increased their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the stock a "market outperform" rating in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Prelude Therapeutics from a "buy" rating to a "hold" rating in a report on Sunday, January 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.00.

Prelude Therapeutics Stock Down 2.7%

Prelude Therapeutics stock opened at $4.27 on Tuesday. The stock has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $2.50. Prelude Therapeutics has a 12-month low of $0.73 and a 12-month high of $5.54. The stock has a market capitalization of $269.02 million, a price-to-earnings ratio of -3.31 and a beta of 0.73.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.13. The company had revenue of $5.64 million for the quarter, compared to the consensus estimate of $20.50 million.

Insider Buying and Selling at Prelude Therapeutics

In other news, Director David P. Bonita purchased 2,815,315 shares of the business's stock in a transaction dated Tuesday, April 21st. The shares were acquired at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the purchase, the director directly owned 11,808,945 shares of the company's stock, valued at $52,431,715.80. The trade was a 31.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc purchased 2,815,315 shares of the business's stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average cost of $4.44 per share, for a total transaction 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 trade represents a 31.30% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 63.90% of the company's stock.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds have recently added to or reduced their stakes in PRLD. Millennium Management LLC lifted its stake in Prelude Therapeutics by 361.7% in the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company's stock valued at $1,652,000 after buying an additional 898,621 shares during the period. Marshall Wace LLP acquired a new position in Prelude Therapeutics in the fourth quarter valued at about $794,000. Sphera Funds Management LTD. acquired a new position in Prelude Therapeutics in the fourth quarter valued at about $356,000. Jane Street Group LLC acquired a new position in Prelude Therapeutics in the second quarter valued at about $74,000. Finally, Shay Capital LLC acquired a new position in Prelude Therapeutics in the second quarter valued at about $61,000. Institutional investors and hedge funds own 79.72% of the company's stock.

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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