Prelude Therapeutics (NASDAQ:PRLD) Trading Down 5.1%

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) were down 5.1% during mid-day trading on Thursday . The company traded as low as $37.19 and last traded at $37.25. Approximately 4,111 shares were traded during trading, a decline of 98% from the average daily volume of 219,671 shares. The stock had previously closed at $39.25.

A number of equities research analysts have issued reports on PRLD shares. Zacks Investment Research raised Prelude Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 18th. Morgan Stanley boosted their price target on Prelude Therapeutics from $47.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 23rd. Finally, Barclays started coverage on Prelude Therapeutics in a research note on Tuesday, March 9th. They set an “overweight” rating and a $80.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Prelude Therapeutics currently has an average rating of “Hold” and an average price target of $54.25.

The firm has a 50 day moving average price of $56.83.

Several large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in shares of Prelude Therapeutics in the first quarter worth about $49,000. Citigroup Inc. acquired a new position in shares of Prelude Therapeutics in the fourth quarter worth about $124,000. Strs Ohio acquired a new stake in Prelude Therapeutics during the fourth quarter valued at approximately $157,000. Old Well Partners LLC acquired a new stake in Prelude Therapeutics during the fourth quarter valued at approximately $247,000. Finally, Personal CFO Solutions LLC acquired a new stake in Prelude Therapeutics during the fourth quarter valued at approximately $322,000. Institutional investors and hedge funds own 76.21% of the company’s stock.

Prelude Therapeutics Company Profile (NASDAQ:PRLD)

Prelude Therapeutics Incorporated, a clinical-stage precision oncology company, focuses on the discovery and development of small molecule therapies optimized to target the key driver mechanisms in cancers. It is developing PRT543 that is in Phase 1 clinical trials in select solid tumors and myeloid malignancies in patients who are refractory to or intolerant of established therapies; and PRT811, which is in Phase 1 clinical trials in solid tumors, including glioblastoma multiforme and primary central nervous system lymphomas.

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