Prelude Therapeutics (NASDAQ:PRLD) Earns Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report issued on Monday, Benzinga reports. JMP Securities currently has a $7.00 target price on the stock.

Several other research firms have also issued reports on PRLD. HC Wainwright restated a neutral rating and issued a $5.00 price target on shares of Prelude Therapeutics in a research report on Monday. Barclays lowered Prelude Therapeutics from an equal weight rating to an underweight rating and set a $3.00 target price on the stock. in a research report on Thursday, June 20th.

Prelude Therapeutics Stock Down 0.4 %

Shares of Prelude Therapeutics stock opened at $2.44 on Monday. The business has a fifty day simple moving average of $5.16 and a 200-day simple moving average of $4.49. Prelude Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $6.80. The firm has a market cap of $102.67 million, a price-to-earnings ratio of -1.30 and a beta of 1.52.

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, meeting analysts’ consensus estimates of ($0.46). Analysts anticipate that Prelude Therapeutics will post -1.85 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Several large investors have recently added to or reduced their stakes in PRLD. Acadian Asset Management LLC grew its holdings in shares of 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 buying an additional 6,615 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 during the period. Kennedy Capital Management LLC purchased a new position in Prelude Therapeutics during the 1st quarter valued at about $119,000. Pale Fire Capital SE increased its holdings in shares of Prelude Therapeutics by 106.6% in the 4th quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after purchasing an additional 32,800 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Prelude Therapeutics by 2.8% in 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 in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

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.