Prelude Therapeutics’ (PRLD) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $5.00 price objective on the stock. HC Wainwright also issued estimates for Prelude Therapeutics’ Q1 2025 earnings at ($0.47) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.49) EPS, Q4 2025 earnings at ($0.50) EPS and FY2025 earnings at ($1.94) EPS.

Separately, JMP Securities reiterated a “market outperform” rating and issued a $4.00 price target (down from $7.00) on shares of Prelude Therapeutics in a research report on Wednesday, December 11th.

Prelude Therapeutics Price Performance

Shares of PRLD stock opened at $0.64 on Tuesday. Prelude Therapeutics has a 1 year low of $0.61 and a 1 year high of $6.80. The firm has a fifty day moving average price of $0.79 and a 200-day moving average price of $1.13. The company has a market cap of $35.40 million, a price-to-earnings ratio of -0.36 and a beta of 1.35.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.11. The company had revenue of $4.00 million during the quarter. Equities research analysts expect that Prelude Therapeutics will post -1.81 EPS for the current year.

Insider Buying and Selling

In related news, insider Andrew Combs bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $0.69 per share, with a total value of $69,000.00. Following the completion of the purchase, the insider now owns 480,123 shares of the company’s stock, valued at approximately $331,284.87. The trade was a 26.31 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Krishna Vaddi purchased 675,000 shares of Prelude Therapeutics stock in a transaction on Tuesday, March 25th. The stock was bought at an average price of $0.69 per share, for a total transaction of $465,750.00. Following the completion of the acquisition, the chief executive officer now owns 1,999,296 shares in the company, valued at $1,379,514.24. The trade was a 50.97 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 822,500 shares of company stock worth $568,475. 62.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRLD. Two Sigma Investments LP boosted its stake in Prelude Therapeutics by 307.2% during the fourth quarter. Two Sigma Investments LP now owns 231,839 shares of the company’s stock valued at $296,000 after buying an additional 174,906 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Prelude Therapeutics by 526.3% in the fourth quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock valued at $382,000 after purchasing an additional 252,100 shares in the last quarter. Millennium Management LLC increased its position in Prelude Therapeutics by 188.2% in the fourth quarter. Millennium Management LLC now owns 462,555 shares of the company’s stock worth $590,000 after purchasing an additional 302,031 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Prelude Therapeutics by 280.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 666,574 shares of the company’s stock valued at $850,000 after purchasing an additional 491,595 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Prelude Therapeutics by 747.6% during the fourth quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock valued at $159,000 after purchasing an additional 109,281 shares during the last quarter. Hedge funds and other institutional investors own 79.72% of the company’s stock.

About Prelude Therapeutics

Prelude Therapeutics Incorporated, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT1419, a myeloid cell leukemia-1 inhibitor, which is in Phase 1 clinical trial for the treatment of selected relapsed/refractory myeloid or B-cell malignancies; PRT2527, a cyclin-dependent kinase, which is in Phase 1 clinical trial for the treatment of advanced solid tumors; PRT3645, a cyclin-dependent kinase 4/6 inhibitor, which is in Phase 1 clinical trial for the treatment of advanced and metastatic solid tumors; and PRT3879, a SMARCA2 selective protein degrader, which is in Phase 2/3 clinical trial for the treatment of advanced and metastatic solid tumors with loss of SMARCA4 due to truncating mutation and/or deletion.