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

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

A number of other research analysts also recently commented on the company. HC Wainwright reaffirmed a “buy” rating on shares of Prelude Therapeutics in a report on Wednesday, July 15th. Zacks Research upgraded Prelude Therapeutics to a “hold” rating in a report on Tuesday, April 28th. D. Boral Capital began coverage on Prelude Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Weiss Ratings upgraded Prelude Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $7.67.

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock opened at $3.89 on Friday. The firm has a market cap of $309.80 million, a PE ratio of -3.89 and a beta of 0.95. The firm’s 50-day simple moving average is $4.30 and its 200-day simple moving average is $3.62. Prelude Therapeutics has a 1 year low of $0.75 and a 1 year high of $5.69.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.14. The company had revenue of $4.58 million for the quarter, compared to the consensus estimate of $4.58 million. On average, equities analysts predict that Prelude Therapeutics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

A number of large investors have recently bought and sold shares of PRLD. Bank of America Corp DE boosted its stake in Prelude Therapeutics by 476.3% in the first quarter. Bank of America Corp DE now owns 56,525 shares of the company’s stock valued at $193,000 after acquiring an additional 46,717 shares during the period. ADAR1 Capital Management LLC bought a new position in shares of Prelude Therapeutics during the first quarter valued at approximately $523,000. EcoR1 Capital LLC bought a new position in shares of Prelude Therapeutics during the first quarter valued at approximately $3,239,000. Renaissance Technologies LLC raised its position in shares of Prelude Therapeutics by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company’s stock worth $941,000 after purchasing an additional 3,900 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Prelude Therapeutics during the 1st quarter worth approximately $120,000. Institutional investors 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.