Prelude Therapeutics (NASDAQ:PRLD) Given Market Outperform Rating at JMP Securities

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a report issued on Wednesday,Benzinga reports. They presently have a $4.00 price objective on the stock, down from their previous price objective of $7.00. JMP Securities’ price objective suggests a potential upside of 316.71% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research report on Friday, November 8th.

Prelude Therapeutics Stock Down 1.0 %

PRLD stock traded down $0.01 on Wednesday, reaching $0.96. 814,839 shares of the company’s stock were exchanged, compared to its average volume of 176,992. The stock has a fifty day moving average of $1.38 and a 200-day moving average of $3.32. The firm has a market cap of $52.83 million, a PE ratio of -0.53 and a beta of 1.49. Prelude Therapeutics has a twelve month low of $0.91 and a twelve month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05. The firm had revenue of $3.00 million during the quarter. On average, equities research analysts predict that Prelude Therapeutics will post -1.82 EPS for the current fiscal year.

Institutional Trading of Prelude Therapeutics

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Prelude Therapeutics by 1.0% in the 1st 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 during the period. Barclays PLC increased its holdings in Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after purchasing an additional 12,564 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 buying an additional 14,226 shares during the period. Dimensional Fund Advisors LP boosted its stake in Prelude Therapeutics by 103.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after purchasing an additional 14,769 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in Prelude Therapeutics by 32.2% during the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock worth $133,000 after acquiring an additional 15,682 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

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.