Prelude Therapeutics (NASDAQ:PRLD) Given “Neutral” Rating at HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “neutral” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $5.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 104.08% from the stock’s previous close.

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

Prelude Therapeutics Stock Performance

PRLD opened at $2.45 on Monday. The company has a fifty day moving average price of $5.19 and a two-hundred day moving average price of $4.50. The firm has a market capitalization of $134.80 million, a PE ratio of -1.30 and a beta of 1.52. Prelude Therapeutics has a 52 week low of $1.66 and a 52 week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.46) EPS for the quarter, hitting analysts’ consensus estimates of ($0.46). Equities analysts forecast that Prelude Therapeutics will post -1.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in Prelude Therapeutics by 42.7% in the first quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after buying an additional 6,615 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Prelude Therapeutics by 103.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after acquiring an additional 14,769 shares during the period. Kennedy Capital Management LLC bought a new stake in Prelude Therapeutics in the 1st quarter valued at $119,000. Pale Fire Capital SE boosted its stake in Prelude Therapeutics by 106.6% in the 4th 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 increased its holdings in Prelude Therapeutics by 2.8% during 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 in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

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.