Prelude Therapeutics (NASDAQ:PRLD) Stock Rating Upgraded by Wall Street Zen

Prelude Therapeutics (NASDAQ:PRLD) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

PRLD has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research report on Tuesday, September 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Prelude Therapeutics presently has an average rating of “Hold” and a consensus target price of $4.00.

Prelude Therapeutics Stock Down 4.7%

Prelude Therapeutics stock opened at $2.63 on Friday. The firm has a fifty day moving average of $1.95 and a 200-day moving average of $1.40. Prelude Therapeutics has a 52-week low of $0.61 and a 52-week high of $4.22. The firm has a market capitalization of $165.35 million, a P/E ratio of -1.79 and a beta of 0.90.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.09. The business had revenue of $6.50 million for the quarter. On average, research analysts expect that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Institutional Trading of Prelude Therapeutics

A number of hedge funds have recently made changes to their positions in PRLD. AQR Capital Management LLC boosted its stake in Prelude Therapeutics by 170.7% in the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after acquiring an additional 21,330 shares during the period. Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics in the 2nd quarter worth approximately $34,000. XTX Topco Ltd boosted its position in Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after purchasing an additional 17,873 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Prelude Therapeutics during the 2nd quarter valued at approximately $39,000. Finally, Shay Capital LLC bought a new position in Prelude Therapeutics during the 2nd quarter worth $61,000. 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.