Prelude Therapeutics (NASDAQ:PRLD) Rating Reiterated by HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock.

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

Prelude Therapeutics Stock Down 7.1 %

PRLD opened at $5.00 on Tuesday. The firm has a market cap of $210.40 million, a price-to-earnings ratio of -2.66 and a beta of 1.53. Prelude Therapeutics has a 52 week low of $1.66 and a 52 week high of $6.80. The business’s 50 day moving average is $5.22 and its two-hundred day moving average is $4.53.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.46). Equities analysts expect that Prelude Therapeutics will post -1.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Boxer Capital LLC lifted its holdings in Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock worth $10,967,000 after buying an additional 73,269 shares during the last quarter. Pale Fire Capital SE increased its position in Prelude Therapeutics by 106.6% in the 4th quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after acquiring an additional 32,800 shares during the period. Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics in the 1st quarter valued at approximately $119,000. Dimensional Fund Advisors LP raised its stake in shares of Prelude Therapeutics by 103.2% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Prelude Therapeutics by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock worth $1,990,000 after purchasing an additional 14,226 shares during the last quarter. Hedge funds and other 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.