HC Wainwright Reiterates Buy Rating for Prelude Therapeutics (NASDAQ:PRLD)

HC Wainwright reiterated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research note released on Friday,Benzinga reports. They currently have a $5.00 target price on the stock.

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Prelude Therapeutics in a research report on Monday, September 16th.

Prelude Therapeutics Price Performance

Prelude Therapeutics stock opened at $1.19 on Friday. The business has a fifty day moving average of $2.37 and a two-hundred day moving average of $3.75. The firm has a market cap of $65.49 million, a P/E ratio of -0.67 and a beta of 1.56. Prelude Therapeutics has a twelve month low of $1.10 and a twelve month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.05. The business had revenue of $3.00 million for the quarter. Equities analysts expect that Prelude Therapeutics will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its stake in Prelude Therapeutics by 42.7% in the 1st 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 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 acquiring an additional 14,769 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics in the 1st quarter valued at about $119,000. Exchange Traded Concepts LLC raised its holdings 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 acquiring an additional 15,682 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 worth $1,990,000 after buying an additional 14,226 shares during the last quarter. 79.72% of the stock is owned by hedge funds and other 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.