Prelude Therapeutics (NASDAQ:PRLD) Stock Price Down 1.1% – Time to Sell?

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

Analysts Set New Price Targets

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

Prelude Therapeutics Stock Performance

The company has a market capitalization of $332.92 million, a price-to-earnings ratio of -4.18 and a beta of 0.95. The firm has a fifty day moving average price of $4.41 and a 200-day moving average price of $3.54.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. The company had revenue of $4.58 million during the quarter, compared to analyst estimates of $4.58 million. On average, sell-side analysts forecast that Prelude Therapeutics Incorporated will post -0.93 EPS for the current fiscal year.

Insider Activity at Prelude Therapeutics

In other news, Director Orbimed Advisors Llc purchased 2,815,315 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average price of $4.44 per share, for a total transaction of $12,499,998.60. Following the transaction, the director owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. The trade was a 31.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David P. Bonita acquired 2,815,315 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was purchased at an average cost of $4.44 per share, for a total transaction of $12,499,998.60. Following the completion of the purchase, the director directly owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 49.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Prelude Therapeutics

Large investors have recently modified their holdings of the business. OMERS ADMINISTRATION Corp bought a new position in shares of Prelude Therapeutics in the 4th quarter valued at $212,000. Jane Street Group LLC lifted its position in shares of Prelude Therapeutics by 218.9% during the 4th quarter. Jane Street Group LLC now owns 111,040 shares of the company’s stock worth $322,000 after buying an additional 76,218 shares during the last quarter. Shay Capital LLC lifted its position in shares of Prelude Therapeutics by 33.3% during the 3rd quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock worth $144,000 after buying an additional 25,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in Prelude Therapeutics in the second quarter valued at about $34,000. Finally, XTX Topco Ltd boosted its stake in Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after buying an additional 17,873 shares in the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.

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.