Prelude Therapeutics (NASDAQ:PRLD) Rating Increased to Strong-Buy at HC Wainwright

HC Wainwright upgraded shares of Prelude Therapeutics (NASDAQ:PRLD) from a hold rating to a strong-buy rating in a report published on Thursday, Zacks.com reports.

Several other brokerages have also weighed in on PRLD. JMP Securities reaffirmed a market outperform rating and issued a $7.00 target price 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 Trading Up 4.5 %

NASDAQ:PRLD opened at $2.55 on Thursday. The firm has a market capitalization of $107.30 million, a price-to-earnings ratio of -1.36 and a beta of 1.52. Prelude Therapeutics has a 1-year low of $1.66 and a 1-year high of $6.80. The business’s fifty day moving average price is $5.16 and its 200 day moving average price is $4.49.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, hitting the consensus estimate of ($0.46). Equities analysts forecast that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Several large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in shares of Prelude Therapeutics by 42.7% during the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after acquiring an additional 6,615 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $4,821,000 after acquiring an additional 10,143 shares in the last quarter. Massachusetts Financial Services Co. MA boosted 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 worth $1,990,000 after acquiring an additional 14,226 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 worth $111,000 after acquiring an additional 14,769 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Prelude Therapeutics during the 1st quarter valued at approximately $119,000. 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.