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

HC Wainwright reiterated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Monday, Benzinga reports. The brokerage currently has a $5.00 target price on the stock.

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

Prelude Therapeutics Stock Down 7.7 %

Prelude Therapeutics stock opened at $1.32 on Monday. The company has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $3.92. The firm has a market capitalization of $72.63 million, a price-to-earnings ratio of -0.73 and a beta of 1.48. Prelude Therapeutics has a 52-week low of $1.32 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 the consensus estimate of ($0.46). On average, research analysts anticipate that Prelude Therapeutics will post -1.85 EPS for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kennedy Capital Management LLC acquired a new stake in shares of Prelude Therapeutics during the first quarter valued at about $119,000. Exchange Traded Concepts LLC boosted 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 purchasing an additional 15,682 shares during the period. Dimensional Fund Advisors LP increased its holdings in Prelude Therapeutics by 103.2% in the 2nd 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 last quarter. Massachusetts Financial Services Co. MA raised its position 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 purchasing an additional 14,226 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Prelude Therapeutics by 1.0% during the first 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 in the last quarter. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

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.