Prelude Therapeutics (NASDAQ:PRLD) Stock Rating Reaffirmed by HC Wainwright

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

Separately, 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 report on Thursday, June 20th.

Prelude Therapeutics Stock Performance

PRLD stock opened at $2.77 on Monday. The stock’s 50 day moving average price is $5.22 and its 200 day moving average price is $4.53. The firm has a market cap of $116.56 million, a P/E ratio of -1.47 and a beta of 1.52. Prelude Therapeutics has a 1 year low of $1.66 and a 1 year high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.46) EPS for the quarter, meeting analysts’ consensus estimates of ($0.46). On average, research analysts predict that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Boxer Capital LLC raised its holdings in Prelude Therapeutics by 2.9% in the fourth quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after buying an additional 73,269 shares during the period. Pale Fire Capital SE increased its position 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 acquiring an additional 32,800 shares in the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Prelude Therapeutics in the 1st quarter valued at $119,000. Dimensional Fund Advisors LP lifted its holdings 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings 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 acquiring an additional 14,226 shares in the last quarter. 79.72% of the stock is 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.