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

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 80.51% from the company’s previous close.

Separately, 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 Price Performance

Prelude Therapeutics stock opened at $2.77 on Monday. The business has a 50 day simple moving average of $5.22 and a 200-day simple moving average of $4.53. Prelude Therapeutics has a 12 month low of $1.66 and a 12 month high of $6.80. The stock has a market capitalization of $116.56 million, a PE ratio of -1.47 and a beta of 1.52.

Prelude Therapeutics (NASDAQ:PRLD) last announced 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, equities research analysts anticipate that Prelude Therapeutics will post -1.85 EPS for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its stake in shares of Prelude Therapeutics by 42.7% in the first quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after purchasing an additional 6,615 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Prelude Therapeutics during the 1st quarter valued at approximately $119,000. Dimensional Fund Advisors LP lifted its position in shares of 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 during the period. Pale Fire Capital SE boosted its stake in shares of Prelude Therapeutics by 106.6% during the 4th quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock worth $271,000 after acquiring an additional 32,800 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings 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 acquiring an additional 14,226 shares during the period. 79.72% of the stock is owned by institutional investors and hedge funds.

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.