Prelude Therapeutics (NASDAQ:PRLD) Earns “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Monday, Benzinga reports. They currently have a $5.00 price target on the stock.

Separately, Barclays cut 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 Price Performance

Shares of NASDAQ PRLD opened at $2.60 on Monday. The business’s 50 day moving average is $5.21 and its two-hundred day moving average is $4.52. Prelude Therapeutics has a 1-year low of $1.66 and a 1-year high of $6.80. The stock has a market capitalization of $143.05 million, a P/E ratio of -1.38 and a beta of 1.52.

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

Hedge Funds Weigh In On Prelude Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boxer Capital LLC raised its stake in shares of Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after buying an additional 73,269 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Prelude Therapeutics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after buying an additional 10,143 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Prelude Therapeutics by 2.8% during the 2nd 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 last quarter. Pale Fire Capital SE raised its stake in shares of Prelude Therapeutics by 106.6% during the 4th quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after buying an additional 32,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Prelude Therapeutics by 103.2% during the 2nd 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. Hedge funds and other institutional investors 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.