Prelude Therapeutics’ (PRLD) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report published on Monday morning, Marketbeat reports. HC Wainwright currently has a $5.00 price objective on the stock.

Separately, Barclays lowered Prelude Therapeutics from an equal weight rating to an underweight rating and set a $3.00 price objective on the stock. in a report on Thursday, June 20th.

Prelude Therapeutics Price Performance

Shares of PRLD opened at $2.55 on Monday. The company’s 50-day moving average is $5.16 and its 200-day moving average is $4.49. The firm has a market capitalization of $107.30 million, a PE ratio of -1.36 and a beta of 1.52. Prelude Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46). Analysts predict that Prelude Therapeutics will post -1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC raised its holdings in Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after acquiring an additional 6,615 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Prelude Therapeutics in the first quarter valued at about $119,000. Dimensional Fund Advisors LP raised its stake in 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 purchasing an additional 14,769 shares in the last quarter. Pale Fire Capital SE lifted its position in Prelude Therapeutics by 106.6% during the fourth quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock worth $271,000 after purchasing an additional 32,800 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Prelude Therapeutics by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock worth $1,990,000 after buying an additional 14,226 shares in the last quarter. Institutional investors and hedge funds 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.