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

by · The Cerbat Gem

Wall Street Zen upgraded shares of Prelude Therapeutics (NASDAQ:PRLD – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

PRLD has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $5.00 target price 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Prelude Therapeutics currently has an average rating of “Hold” and a consensus price target of $4.00.

View Our Latest Analysis on PRLD

Prelude Therapeutics Stock Performance

Shares of NASDAQ PRLD opened at $2.20 on Friday. Prelude Therapeutics has a 1 year low of $0.61 and a 1 year high of $4.22. The firm has a market cap of $138.31 million, a P/E ratio of -1.50 and a beta of 0.90. The stock has a fifty day moving average price of $1.91 and a two-hundred day moving average price of $1.41.

Prelude Therapeutics (NASDAQ:PRLD – Get Free Report) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.09. The firm had revenue of $6.50 million during the quarter. On average, research analysts predict that Prelude Therapeutics will post -1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Prelude Therapeutics by 361.7% during the 3rd quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock valued at $1,652,000 after purchasing an additional 898,621 shares during the period. Vanguard Group Inc. grew its holdings in shares of Prelude Therapeutics by 6.5% during the third quarter. Vanguard Group Inc. now owns 992,854 shares of the company’s stock valued at $1,430,000 after buying an additional 60,284 shares in the last quarter. Acadian Asset Management LLC raised its position 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 during the period. Shay Capital LLC lifted 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 acquiring an additional 25,000 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Prelude Therapeutics in the 2nd quarter worth about $74,000. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

Prelude Therapeutics Company Profile

(Get Free Report)

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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