Citizens Jmp Forecasts Strong Price Appreciation for Prelude Therapeutics (NASDAQ:PRLD) Stock

Prelude Therapeutics (NASDAQ:PRLD) had its target price boosted by stock analysts at Citizens Jmp from $3.00 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 78.04% from the stock’s previous close.

PRLD has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.50.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock opened at $3.37 on Wednesday. Prelude Therapeutics has a one year low of $0.61 and a one year high of $4.22. The business’s 50 day simple moving average is $2.45 and its two-hundred day simple moving average is $1.87. The stock has a market capitalization of $211.87 million, a P/E ratio of -2.61 and a beta of 0.79.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. The company had revenue of $5.64 million for the quarter, compared to analysts’ expectations of $20.50 million. Sell-side analysts expect that Prelude Therapeutics will post -1.81 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after acquiring an additional 21,330 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Prelude Therapeutics by 9.1% in the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after purchasing an additional 43,946 shares during the period. XTX Topco Ltd boosted its position in shares of Prelude Therapeutics by 72.4% during 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 in the last quarter. Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics during the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC purchased a new stake in Prelude Therapeutics in the second quarter worth $74,000. 79.72% of the stock is currently owned by hedge funds and other 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.