Prelude Therapeutics (NASDAQ:PRLD) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Friday morning,Benzinga reports. The firm currently has a $5.00 price objective on the stock.

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

Prelude Therapeutics Stock Up 0.8 %

Shares of PRLD stock traded up $0.01 during trading hours on Friday, hitting $1.20. 47,247 shares of the company’s stock were exchanged, compared to its average volume of 155,472. The firm has a market cap of $66.04 million, a P/E ratio of -0.67 and a beta of 1.56. The firm has a 50 day moving average of $2.45 and a two-hundred day moving average of $3.77. Prelude Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.05. The business had revenue of $3.00 million for the quarter. On average, equities analysts forecast that Prelude Therapeutics will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its position 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Prelude Therapeutics by 103.2% in the second 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 in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Prelude Therapeutics in the first quarter valued at approximately $119,000. Exchange Traded Concepts LLC grew its position in shares of Prelude Therapeutics by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after purchasing an additional 15,682 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Prelude Therapeutics by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after purchasing an additional 14,226 shares in the last quarter. 79.72% of the stock is currently 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.