Prelude Therapeutics (NASDAQ:PRLD) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $5.00 price objective on the stock.

Separately, JMP Securities reissued a “market outperform” rating and issued a $7.00 target price on shares of Prelude Therapeutics in a research report on Monday, September 16th.

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock opened at $1.19 on Friday. The firm has a market capitalization of $65.49 million, a PE ratio of -0.67 and a beta of 1.56. The business’s 50-day moving average price is $2.37 and its 200-day moving average price is $3.75. Prelude Therapeutics has a 12 month low of $1.10 and a 12 month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. The company had revenue of $3.00 million for the quarter. As a group, analysts predict that Prelude Therapeutics will post -1.84 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PRLD. Acadian Asset Management LLC boosted its stake in shares of Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after buying an additional 6,615 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Prelude Therapeutics in the first quarter valued at about $119,000. Dimensional Fund Advisors LP lifted its position in shares of Prelude Therapeutics by 103.2% in the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock valued at $111,000 after acquiring an additional 14,769 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Prelude Therapeutics by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after acquiring an additional 15,682 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Prelude Therapeutics by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after acquiring an additional 14,226 shares in the last quarter. 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.