Prelude Therapeutics (NASDAQ:PRLD – Get Rating) had its price objective cut by equities researchers at HC Wainwright from $62.00 to $16.00 in a note issued to investors on Thursday, The Fly reports. HC Wainwright’s target price would indicate a potential upside of 296.04% from the stock’s current price.
A number of other equities research analysts have also issued reports on PRLD. Morgan Stanley decreased their target price on shares of Prelude Therapeutics from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, March 17th. Zacks Investment Research upgraded shares of Prelude Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, March 18th. Barclays downgraded shares of Prelude Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $20.00 to $12.00 in a report on Monday, February 28th. Finally, Bank of America downgraded shares of Prelude Therapeutics from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $10.00 in a report on Tuesday, March 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.60.
PRLD opened at $4.04 on Thursday. Prelude Therapeutics has a twelve month low of $3.87 and a twelve month high of $45.33. The company has a market capitalization of $192.43 million, a PE ratio of -1.67 and a beta of 1.71. The company’s 50 day simple moving average is $6.59.
A number of large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Prelude Therapeutics by 2.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 482,119 shares of the company’s stock valued at $3,327,000 after purchasing an additional 13,322 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Prelude Therapeutics during the 1st quarter valued at $160,000. IndexIQ Advisors LLC bought a new stake in Prelude Therapeutics during the 1st quarter valued at $392,000. Norges Bank bought a new stake in Prelude Therapeutics during the 4th quarter valued at $311,000. Finally, Walleye Capital LLC bought a new stake in shares of Prelude Therapeutics in the 4th quarter worth $522,000. 73.80% of the stock is currently owned by institutional investors and hedge funds.
Prelude Therapeutics Company Profile (Get Rating)
Prelude Therapeutics Incorporated, a clinical-stage precision oncology company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT543 that is in Phase 1 clinical trials in select solid tumors and myeloid malignancies; and PRT811, which is in Phase 1 clinical trials in solid tumors, including glioblastoma multiforme.
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