JMP Securities Reiterates Market Outperform Rating for Prelude Therapeutics (NASDAQ:PRLD)

JMP Securities reaffirmed their market outperform rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research note published on Monday, Benzinga reports. JMP Securities currently has a $7.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. Barclays lowered 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 note on Thursday, June 20th. HC Wainwright reiterated a neutral rating and set a $5.00 price target on shares of Prelude Therapeutics in a research note on Monday.

Prelude Therapeutics Price Performance

Shares of PRLD stock opened at $2.44 on Monday. Prelude Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $6.80. The stock’s 50-day moving average is $5.16 and its two-hundred day moving average is $4.49. The firm has a market cap of $102.67 million, a P/E ratio of -1.30 and a beta of 1.52.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boxer Capital LLC lifted its position in Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock worth $10,967,000 after acquiring an additional 73,269 shares during the last quarter. Pale Fire Capital SE increased its stake in shares of 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 acquired a new position in shares of Prelude Therapeutics during the 1st quarter worth about $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 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 during the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.