Prelude Therapeutics (NASDAQ:PRLD) Reaches New 1-Year High - Still a Buy?

Key Points

• Prelude Therapeutics shares reached a new 52-week high, trading as high as $6.65 and closing around $6.50, up 12.5% from the prior close.
• Analyst sentiment remains mixed: three analysts rate the stock Buy, one Hold, and one Sell, producing a consensus Hold rating and an average price target of $7.67.
• The company reported a quarterly loss of $0.14 per share, beating estimates of a $0.20 loss, while institutional investors own approximately 79.72% of the stock.

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report)'s stock price hit a new 52-week high on Friday . The stock traded as high as $6.65 and last traded at $6.50, with a volume of 2433437 shares traded. The stock had previously closed at $5.78.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Prelude Therapeutics from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Zacks Research raised shares of Prelude Therapeutics to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Prelude Therapeutics in a report on Wednesday, July 29th. D. Boral Capital assumed coverage on shares of Prelude Therapeutics in a research note on Monday, May 4th. They issued a "buy" rating and a $9.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $8.00 target price on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.67.

Prelude Therapeutics Trading Up 12.5%

The company has a market capitalization of $517.69 million, a P/E ratio of -8.90 and a beta of 0.96. The business has a 50 day moving average price of $4.70 and a 200 day moving average price of $4.00.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) earnings per share (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 analyst estimates of $5.70 million. On average, analysts forecast that Prelude Therapeutics Incorporated will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRLD. BlackRock Inc. acquired a new position in shares of Prelude Therapeutics in the 2nd quarter valued at approximately $9,581,000. EcoR1 Capital LLC bought a new position in Prelude Therapeutics in the first quarter valued at approximately $3,239,000. ADAR1 Capital Management LLC bought a new position in Prelude Therapeutics in the second quarter valued at approximately $4,802,000. Millennium Management LLC boosted its holdings in shares of 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. Finally, Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics during the fourth quarter worth $794,000. 79.72% of the stock is owned by institutional investors and hedge funds.

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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