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

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $5.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 249.65% from the company’s previous close.

Separately, JMP Securities restated a “market outperform” rating and issued a $7.00 price objective on shares of Prelude Therapeutics in a research note on Monday, September 16th.

Prelude Therapeutics Trading Down 4.7 %

NASDAQ:PRLD opened at $1.43 on Monday. The stock has a market capitalization of $78.68 million, a PE ratio of -0.79 and a beta of 1.48. Prelude Therapeutics has a 1-year low of $1.39 and a 1-year high of $6.80. The firm has a fifty day simple moving average of $3.11 and a 200 day simple moving average of $3.94.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.46) EPS for the quarter, meeting analysts’ consensus estimates of ($0.46). On average, equities analysts predict that Prelude Therapeutics will post -1.85 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in Prelude Therapeutics by 42.7% during the first quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after acquiring an additional 6,615 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics during the 1st quarter worth approximately $119,000. Dimensional Fund Advisors LP boosted its stake in Prelude Therapeutics by 103.2% in 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 during the period. Exchange Traded Concepts LLC boosted its stake in Prelude Therapeutics by 32.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after purchasing an additional 15,682 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Prelude Therapeutics by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after buying an additional 14,226 shares in the last quarter. 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.