Prelude Therapeutics (NASDAQ:PRLD) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Prelude Therapeutics (NASDAQ:PRLD) from a hold rating to a buy rating in a report issued on Saturday.

A number of other research analysts have also commented on PRLD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.00.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $2.63 on Friday. Prelude Therapeutics has a one year low of $0.61 and a one year high of $4.22. The stock’s fifty day moving average is $1.95 and its 200-day moving average is $1.40. The firm has a market capitalization of $165.35 million, a price-to-earnings ratio of -1.79 and a beta of 0.90.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.09. The company had revenue of $6.50 million during the quarter. Analysts forecast that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd boosted its stake in shares of Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after acquiring an additional 17,873 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Prelude Therapeutics by 170.7% in the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after purchasing an additional 21,330 shares during the period. Shay Capital LLC increased its stake in Prelude Therapeutics by 33.3% in the 3rd quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock worth $144,000 after purchasing an additional 25,000 shares in the last quarter. Marshall Wace LLP acquired a new stake in Prelude Therapeutics during the 2nd quarter worth about $34,000. Finally, Acadian Asset Management LLC lifted its stake in Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after buying an additional 43,946 shares in the last quarter. Institutional investors and hedge funds 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.