Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD – Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $6.65 and last traded at $6.50, with a volume of 2433437 shares traded. The stock had previously closed at $5.78.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on PRLD. Zacks Research raised Prelude Therapeutics to a “hold” rating in a research report on Tuesday, April 28th. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Prelude Therapeutics in a report on Wednesday, July 29th. D. Boral Capital assumed coverage on shares of Prelude Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $9.00 price objective on the stock. Wall Street Zen raised shares of Prelude Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prelude Therapeutics currently has a consensus rating of “Hold” and an average target price of $7.67.
Read Our Latest Report on Prelude Therapeutics
Prelude Therapeutics Stock Up 12.5%
Prelude Therapeutics (NASDAQ:PRLD – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $5.70 million during the quarter, compared to the consensus estimate of $5.70 million. On average, equities analysts forecast that Prelude Therapeutics Incorporated will post -0.62 EPS for the current year.
Institutional Trading of Prelude Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRLD. Renaissance Technologies LLC raised its stake in Prelude Therapeutics by 1.4% in the 1st quarter. Renaissance Technologies LLC now owns 275,200 shares of the company’s stock valued at $941,000 after acquiring an additional 3,900 shares during the period. GSA Capital Partners LLP bought a new position in Prelude Therapeutics during the second quarter worth $68,000. Hsbc Holdings PLC bought a new position in Prelude Therapeutics during the second quarter worth $74,000. XTX Topco Ltd increased its holdings in shares of 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 purchasing an additional 17,873 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 21,330 shares during the last quarter. 79.72% of the stock is owned by institutional investors.
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.
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