Prelude Therapeutics (NASDAQ:PRLD) Trading Down 1.1% - What's Next?

Key Points

• Prelude Therapeutics shares fell 1.1% on Tuesday, trading as low as $4.35 before closing at $4.39 on lighter-than-average volume.
• Analysts remain mixed on the stock, with recent ratings ranging from Sell to Buy and a consensus rating of Hold. The average price target is $7.67, above the current share price.
• The company beat earnings expectations in its latest quarter, reporting a loss of $0.13 per share versus the expected $0.27 loss, while revenue matched estimates at $4.58 million.

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) dropped 1.1% during trading on Tuesday . The company traded as low as $4.35 and last traded at $4.39. 325,442 shares traded hands during trading, a decline of 42% from the average session volume of 556,848 shares. The stock had previously closed at $4.44.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRLD shares. Weiss Ratings upgraded shares of Prelude Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 1st. HC Wainwright raised their target price on shares of Prelude Therapeutics from $5.00 to $8.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Zacks Research raised shares of Prelude Therapeutics to a "hold" rating in a report on Tuesday, April 28th. Finally, 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 target on the stock. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $7.67.

Prelude Therapeutics Trading Down 1.1%

The company has a 50 day moving average of $4.42 and a 200-day moving average of $3.53. The firm has a market capitalization of $349.62 million, a P/E ratio of -4.39 and a beta of 0.95.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.14. The firm had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. As a group, sell-side analysts forecast that Prelude Therapeutics Incorporated will post -0.93 EPS for the current fiscal year.

Insider Transactions at Prelude Therapeutics

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

Institutional Investors Weigh In On Prelude Therapeutics

Several institutional investors have recently made changes to their positions in PRLD. Sphera Funds Management LTD. bought a new position in Prelude Therapeutics during the 4th quarter worth $356,000. State Street Corp lifted its position in shares of Prelude Therapeutics by 30.4% during the 4th quarter. State Street Corp now owns 127,292 shares of the company's stock valued at $369,000 after acquiring an additional 29,700 shares during the period. Acadian Asset Management LLC lifted its position in shares of Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company's stock valued at $405,000 after acquiring an additional 43,946 shares during the period. Geode Capital Management LLC lifted its position in shares of Prelude Therapeutics by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 272,886 shares of the company's stock valued at $792,000 after acquiring an additional 55,318 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Prelude Therapeutics during the 4th quarter worth $794,000. 79.72% of the stock is currently owned by institutional investors.

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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