Exchange Traded Concepts LLC Boosts Stake in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Exchange Traded Concepts LLC lifted its holdings in Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 32.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,409 shares of the company’s stock after purchasing an additional 15,682 shares during the period. Exchange Traded Concepts LLC owned about 0.15% of Prelude Therapeutics worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased 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 buying an additional 14,769 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Prelude Therapeutics by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock worth $1,990,000 after acquiring an additional 14,226 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Prelude Therapeutics during the first quarter worth $119,000. Acadian Asset Management LLC lifted its holdings in Prelude Therapeutics by 42.7% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Prelude Therapeutics by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after purchasing an additional 10,143 shares in the last quarter. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRLD shares. HC Wainwright upgraded Prelude Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 19th. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Prelude Therapeutics in a research report on Monday, September 16th.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock opened at $1.76 on Wednesday. The stock has a market capitalization of $96.84 million, a price-to-earnings ratio of -0.98 and a beta of 1.48. The business has a 50-day moving average of $3.59 and a 200 day moving average of $4.08. Prelude Therapeutics Incorporated has a 12 month low of $1.66 and a 12 month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, hitting the consensus estimate of ($0.46). Equities research analysts anticipate that Prelude Therapeutics Incorporated will post -1.85 earnings per share for the current year.

Prelude Therapeutics 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.