Prelude Therapeutics’ (PRLD) “Buy” Rating Reaffirmed at HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 329.18% from the company’s current price.

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

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock traded down $0.11 during trading on Friday, hitting $1.17. The company’s stock had a trading volume of 276,636 shares, compared to its average volume of 154,771. The company has a market capitalization of $64.10 million, a PE ratio of -0.67 and a beta of 1.56. Prelude Therapeutics has a 52 week low of $1.10 and a 52 week high of $6.80. The company has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $3.79.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.46). As a group, analysts predict 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 PRLD. Exchange Traded Concepts LLC raised its holdings in Prelude Therapeutics by 32.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after acquiring an additional 15,682 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Prelude Therapeutics by 103.2% in 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 last quarter. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 14,226 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Prelude Therapeutics in the 1st quarter valued at approximately $119,000. Finally, Acadian Asset Management LLC boosted its position in Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after buying an additional 6,615 shares during the period. 79.72% of the stock is 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.