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

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

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

Prelude Therapeutics Trading Down 9.1 %

NASDAQ PRLD opened at $1.20 on Monday. The company has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $3.90. The stock has a market cap of $66.03 million, a price-to-earnings ratio of -0.67 and a beta of 1.48. Prelude Therapeutics has a 52 week low of $1.10 and a 52 week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.46). As a group, equities research analysts expect 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 have recently added to or reduced their stakes in PRLD. Exchange Traded Concepts LLC grew 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 worth $133,000 after buying an additional 15,682 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 14,769 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in 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 buying an additional 14,226 shares in the last quarter. Kennedy Capital Management LLC bought a new position in Prelude Therapeutics in the first quarter valued at approximately $119,000. Finally, Acadian Asset Management LLC lifted its stake in 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 buying an additional 6,615 shares in the last quarter. 79.72% of the stock is owned by institutional investors.

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.