JMP Securities Reaffirms “Market Outperform” Rating for Prelude Therapeutics (NASDAQ:PRLD)

Prelude Therapeutics (NASDAQ:PRLD)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Monday, Benzinga reports. They currently have a $7.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 185.71% from the company’s current price.

Several other equities analysts also recently commented on PRLD. HC Wainwright restated a “neutral” rating and set a $5.00 target price on shares of Prelude Therapeutics in a research report on Monday. Barclays cut Prelude Therapeutics from an “equal weight” rating to an “underweight” rating and set a $3.00 price objective for the company. in a report on Thursday, June 20th.

Prelude Therapeutics Stock Performance

Shares of PRLD stock opened at $2.45 on Monday. The firm has a fifty day moving average of $5.19 and a 200-day moving average of $4.50. The stock has a market cap of $134.80 million, a price-to-earnings ratio of -1.30 and a beta of 1.52. Prelude Therapeutics has a 52-week low of $1.66 and a 52-week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.46). On average, sell-side analysts predict that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Institutional Investors Weigh In On Prelude Therapeutics

Large investors have recently bought and sold shares of the business. Pale Fire Capital SE raised its position in Prelude Therapeutics by 106.6% in the 4th quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after purchasing an additional 32,800 shares during the last quarter. Boxer Capital LLC raised its holdings in shares of Prelude Therapeutics by 2.9% in the fourth 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. lifted its position in 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 buying an additional 10,143 shares in the last quarter. Acadian Asset Management LLC grew its holdings in 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 during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics in the 1st quarter valued at about $119,000. 79.72% of the stock is currently owned by institutional investors.

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.