Prelude Therapeutics (NASDAQ:PRLD) Earns Neutral Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $5.00 target price on the stock.

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

Prelude Therapeutics Stock Down 42.7 %

PRLD opened at $2.77 on Tuesday. The stock’s fifty day moving average is $5.22 and its two-hundred day moving average is $4.53. The company has a market capitalization of $152.41 million, a P/E ratio of -1.47 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 released its quarterly earnings data on Monday, August 12th. The company reported ($0.46) EPS for the quarter, hitting the consensus estimate of ($0.46). Equities analysts anticipate that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of PRLD. Acadian Asset Management LLC boosted its position in Prelude Therapeutics by 42.7% during the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after acquiring an additional 6,615 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 14,769 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Prelude Therapeutics in the 1st quarter worth $119,000. Pale Fire Capital SE boosted its position in shares of 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 in the last quarter. Institutional investors own 79.72% of the company’s stock.

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.