Prelude Therapeutics (NASDAQ:PRLD) Receives “Buy” Rating from HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Monday, Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 228.95% from the company’s current price.

Separately, JMP Securities restated 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 Performance

Prelude Therapeutics stock opened at $1.52 on Monday. Prelude Therapeutics has a one year low of $1.50 and a one year high of $6.80. The stock has a market cap of $63.96 million, a PE ratio of -0.81 and a beta of 1.48. The stock has a 50-day moving average of $3.27 and a two-hundred day moving average of $3.99.

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

Institutional Trading of Prelude Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PRLD. Acadian Asset Management LLC boosted its holdings 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 last quarter. Vanguard Group Inc. boosted its stake in shares of Prelude Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock worth $4,821,000 after buying an additional 10,143 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 acquiring an additional 14,226 shares during the period. Dimensional Fund Advisors LP raised its position in Prelude Therapeutics by 103.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock valued at $111,000 after acquiring an additional 14,769 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Prelude Therapeutics by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after acquiring an additional 15,682 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

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.