Prelude Therapeutics (NASDAQ:PRLD) Upgraded to "Buy" at Wall Street Zen

Key Points

• Prelude Therapeutics (NASDAQ:PRLD) was upgraded by Wall Street Zen from “hold” to “buy”, adding to a mix of recent analyst opinions that leaves the stock with a consensus Hold rating.
• The company reported its latest quarterly results with EPS of -$0.13, beating consensus estimates by $0.14, while revenue of $4.58 million matched expectations.
• Prelude Therapeutics remains a clinical-stage oncology company, with lead program PRT2527 in Phase 1 trials, and the stock recently traded at $3.83 with a market cap of about $305 million.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Several other research firms have also recently commented on PRLD. Zacks Research raised Prelude Therapeutics to a "hold" rating in a report on Tuesday, April 28th. HC Wainwright reissued a "buy" rating on shares of Prelude Therapeutics in a research note on Wednesday, July 15th. Weiss Ratings upgraded Prelude Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 1st. Finally, D. Boral Capital assumed coverage on Prelude Therapeutics in a research note on Monday, May 4th. They issued a "buy" rating and a $9.00 target price for the company. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $7.67.

Prelude Therapeutics Trading Down 2.5%

PRLD opened at $3.83 on Friday. Prelude Therapeutics has a twelve month low of $0.75 and a twelve month high of $5.69. The firm has a market capitalization of $305.02 million, a PE ratio of -3.83 and a beta of 0.95. The firm's 50-day moving average price is $4.31 and its 200 day moving average price is $3.60.

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

Institutional Trading of Prelude Therapeutics

Several institutional investors have recently made changes to their positions in PRLD. Millennium Management LLC lifted its holdings 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 acquiring an additional 898,621 shares during the last quarter. Vanguard Group Inc. raised its position in Prelude Therapeutics by 6.5% in the third quarter. Vanguard Group Inc. now owns 992,854 shares of the company's stock valued at $1,430,000 after purchasing an additional 60,284 shares during the period. EcoR1 Capital LLC purchased a new stake in Prelude Therapeutics in the first quarter valued at $3,239,000. Acadian Asset Management LLC lifted its stake in shares of Prelude Therapeutics by 9.1% in the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company's stock valued at $405,000 after purchasing an additional 43,946 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Prelude Therapeutics by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company's stock valued at $941,000 after purchasing an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 79.72% of the company's stock.

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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