Prelude Therapeutics Incorporated (NASDAQ:PRLD) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 32.2% during the third quarter, according to its most recent Form 13F filing with the SEC. 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’s holdings in Prelude Therapeutics were worth $133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC raised its position in Prelude Therapeutics by 42.7% in the 1st 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. Dimensional Fund Advisors LP raised its holdings 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 during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Prelude Therapeutics during the first quarter worth about $119,000. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 buying an additional 14,226 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in 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 acquiring an additional 10,143 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRLD shares. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Prelude Therapeutics in a research report on Monday, September 16th. HC Wainwright upgraded Prelude Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 19th.

Prelude Therapeutics Stock Down 1.1 %

NASDAQ PRLD opened at $1.76 on Wednesday. The stock has a market capitalization of $96.84 million, a P/E ratio of -0.98 and a beta of 1.48. Prelude Therapeutics Incorporated has a 52-week low of $1.66 and a 52-week high of $6.80. The firm has a 50-day moving average price of $3.59 and a 200 day moving average price of $4.08.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.46). On average, equities research analysts expect that Prelude Therapeutics Incorporated will post -1.85 earnings per share for the current fiscal 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.