Prelude Therapeutics (NASDAQ:PRLD) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research note published on Monday morning, Benzinga reports. HC Wainwright currently has a $5.00 price target on the stock.

Separately, JMP Securities reiterated 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 Trading Down 9.1 %

Shares of PRLD stock opened at $1.20 on Monday. Prelude Therapeutics has a 12 month low of $1.10 and a 12 month high of $6.80. The firm has a market capitalization of $66.03 million, a PE ratio of -0.67 and a beta of 1.48. The firm has a fifty day simple moving average of $2.94 and a two-hundred day simple moving average of $3.90.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, hitting 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.

Hedge Funds Weigh In On Prelude Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRLD. Acadian Asset Management LLC increased its holdings in Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after buying an additional 6,615 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Prelude Therapeutics by 103.2% in the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after purchasing an additional 14,769 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Prelude Therapeutics during the 1st quarter valued at about $119,000. Exchange Traded Concepts LLC lifted its position in shares of Prelude Therapeutics by 32.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after buying an additional 15,682 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position 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 valued at $1,990,000 after buying an additional 14,226 shares in the last quarter. Hedge funds and other 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.