Prelude Therapeutics (NASDAQ:PRLD) Lowered to Underweight at Barclays

Prelude Therapeutics (NASDAQ:PRLD) was downgraded by Barclays from an “equal weight” rating to an “underweight” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $3.00 price target on the stock. Barclays‘s price objective suggests a potential downside of 22.48% from the company’s current price.

Separately, JMP Securities assumed coverage on shares of Prelude Therapeutics in a research note on Wednesday, March 13th. They issued a “mkt outperform” rating and a $7.00 price target on the stock.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $3.87 on Thursday. Prelude Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $5.83. The firm’s 50-day simple moving average is $4.02 and its two-hundred day simple moving average is $3.98. The stock has a market cap of $212.58 million, a PE ratio of -2.06 and a beta of 1.56.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.05. Equities research analysts predict that Prelude Therapeutics will post -1.84 EPS for the current year.

Institutional Trading of Prelude Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PRLD. Pale Fire Capital SE lifted its holdings in shares of Prelude Therapeutics by 106.6% during the fourth quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after purchasing an additional 32,800 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Prelude Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,087 shares of the company’s stock valued at $188,000 after acquiring an additional 11,180 shares during the period. Boxer Capital LLC boosted its holdings in shares of Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after acquiring an additional 73,269 shares during the last quarter. Barclays PLC grew its stake in shares of Prelude Therapeutics by 120.0% in the third quarter. Barclays PLC now owns 13,316 shares of the company’s stock worth $42,000 after acquiring an additional 7,264 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Prelude Therapeutics during the fourth quarter valued at approximately $56,000. 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.