HC Wainwright Reaffirms Buy Rating for Prelude Therapeutics (NASDAQ:PRLD)

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 320.17% from the stock’s current price.

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 Stock Performance

Shares of PRLD stock opened at $1.19 on Friday. The firm has a market capitalization of $65.47 million, a price-to-earnings ratio of -0.67 and a beta of 1.56. Prelude Therapeutics has a one year low of $1.10 and a one year high of $6.80. The company has a 50 day moving average price of $2.45 and a 200 day moving average price of $3.77.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.46) EPS for the quarter, hitting analysts’ consensus estimates of ($0.46). As a group, equities analysts forecast that Prelude Therapeutics will post -1.85 EPS for the current fiscal year.

Institutional Trading of Prelude Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position 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 purchasing an additional 6,615 shares during the period. Vanguard Group Inc. raised its holdings in shares of Prelude Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after buying an additional 10,143 shares during the period. Massachusetts Financial Services Co. MA raised 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 buying an additional 14,226 shares during the period. Dimensional Fund Advisors LP lifted its position in Prelude Therapeutics by 103.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after acquiring an additional 14,769 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted 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 worth $133,000 after acquiring an additional 15,682 shares during the period. 79.72% of the stock is owned by hedge funds and other 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.