Short Interest in Prelude Therapeutics Incorporated (NASDAQ:PRLD) Increases By 37.0%

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,330,000 shares, an increase of 37.0% from the August 31st total of 2,430,000 shares. Based on an average trading volume of 261,900 shares, the short-interest ratio is presently 12.7 days. Approximately 15.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PRLD. JMP Securities reissued a “market outperform” rating and set a $7.00 target price on shares of Prelude Therapeutics in a research note on Monday, September 16th. HC Wainwright upgraded shares of Prelude Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. Finally, Barclays downgraded shares of Prelude Therapeutics from an “equal weight” rating to an “underweight” rating and set a $3.00 price objective on the stock. in a research report on Thursday, June 20th.

Institutional Investors Weigh In On Prelude Therapeutics

Several institutional investors have recently modified their holdings of PRLD. Acadian Asset Management LLC increased its stake in shares of Prelude Therapeutics by 42.7% during the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after purchasing an additional 6,615 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 worth $4,821,000 after purchasing an additional 10,143 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Prelude Therapeutics by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock worth $1,990,000 after purchasing an additional 14,226 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 purchasing an additional 14,769 shares during the period. Finally, Kennedy Capital Management LLC acquired a new position in Prelude Therapeutics in the first quarter valued at $119,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Price Performance

Shares of NASDAQ:PRLD traded down $0.09 on Friday, reaching $2.12. The company’s stock had a trading volume of 119,234 shares, compared to its average volume of 471,009. Prelude Therapeutics has a 52-week low of $1.66 and a 52-week high of $6.80. The stock has a market capitalization of $116.64 million, a P/E ratio of -1.13 and a beta of 1.52. The stock’s 50-day moving average is $4.75 and its two-hundred day moving average is $4.39.

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

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.