Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Up 37.0% in September

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 3,330,000 shares, an increase of 37.0% from the August 31st total of 2,430,000 shares. Approximately 15.7% of the company’s shares are short sold. Based on an average trading volume of 261,900 shares, the short-interest ratio is presently 12.7 days.

Analyst Ratings Changes

A number of brokerages have commented on PRLD. HC Wainwright upgraded Prelude Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Prelude Therapeutics in a research report on Monday, September 16th. Finally, Barclays downgraded shares of Prelude Therapeutics from an “equal weight” rating to an “underweight” rating and set a $3.00 price objective for the company. in a research report on Thursday, June 20th.

Prelude Therapeutics Trading Down 4.1 %

Prelude Therapeutics stock traded down $0.09 during midday trading on Friday, hitting $2.12. The stock had a trading volume of 119,234 shares, compared to its average volume of 471,009. The business has a fifty day moving average price of $4.75 and a 200 day moving average price of $4.39. Prelude Therapeutics has a 12 month low of $1.66 and a 12 month high of $6.80. The stock has a market cap of $116.64 million, a P/E ratio of -1.13 and a beta of 1.52.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.46) EPS for the quarter, meeting the consensus estimate of ($0.46). On average, equities analysts anticipate that Prelude Therapeutics will post -1.85 EPS for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Hedge funds have recently bought and sold shares of the company. Boxer Capital LLC increased its holdings in shares of Prelude Therapeutics by 2.9% during the fourth quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after purchasing an additional 73,269 shares during the period. Pale Fire Capital SE lifted its position in Prelude Therapeutics by 106.6% in 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. Kennedy Capital Management LLC bought a new position in Prelude Therapeutics during the 1st quarter valued at $119,000. Dimensional Fund Advisors LP boosted 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 valued at $111,000 after purchasing an additional 14,769 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Prelude Therapeutics by 2.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after purchasing an additional 14,226 shares during the period. 79.72% of the stock is currently owned by institutional investors.

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.