Prelude Therapeutics Q2 revenue beats analyst expectations, net loss narrows

The current average analyst rating on the shares is "buy", with 3 "strong buy" or "buy" recommendations, no "hold" and no "sell" or "strong sell" ratings.

Wall Street's median 12-month price target for Prelude Therapeutics Incorporated is $8.00, about 65.6% above its August 10 closing price of $4.83.

Prelude expects to start a Phase 1 trial of PRT13722 in HR+ breast cancer in Q4 2026. Enrollment continues in the Phase 1 study of PRT12396 in PV and MF patients.

The company said it had $155 million in cash and equivalents and expects existing cash to fund operations into Q2 2028.