Prelude Therapeutics (NASDAQ:PRLD) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research note published on Friday,Benzinga reports. They currently have a $5.00 price target on the stock.

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

Prelude Therapeutics Stock Performance

Shares of PRLD stock traded down $0.08 during mid-day trading on Friday, reaching $1.19. 537,041 shares of the company were exchanged, compared to its average volume of 155,970. The business’s 50 day simple moving average is $2.45 and its 200 day simple moving average is $3.77. The company has a market capitalization of $65.47 million, a P/E ratio of -0.67 and a beta of 1.56. Prelude Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, hitting the consensus estimate of ($0.46). On average, analysts forecast that Prelude Therapeutics will post -1.85 EPS for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

A number of large investors have recently bought and sold shares of PRLD. Acadian Asset Management LLC raised its position in shares of Prelude Therapeutics by 42.7% during the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after purchasing an additional 6,615 shares during the period. Dimensional Fund Advisors LP grew its stake in Prelude Therapeutics by 103.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after buying an additional 14,769 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics in the first quarter worth $119,000. Exchange Traded Concepts LLC lifted its stake in 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 buying an additional 15,682 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Prelude Therapeutics by 2.8% during 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 during the period. Institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

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.