Prelude Therapeutics (NASDAQ:PRLD) Downgraded by Barclays to “Underweight”

Barclays cut shares of Prelude Therapeutics (NASDAQ:PRLDFree Report) from an equal weight rating to an underweight rating in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has $3.00 price target on the stock.

Separately, JMP Securities started coverage on shares of Prelude Therapeutics in a report on Wednesday, March 13th. They issued a mkt outperform rating and a $7.00 price target for the company.

Check Out Our Latest Research Report on PRLD

Prelude Therapeutics Stock Up 3.2 %

PRLD stock opened at $3.82 on Thursday. The company’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $3.99. Prelude Therapeutics has a 12-month low of $1.66 and a 12-month high of $5.83. The firm has a market cap of $209.83 million, a price-to-earnings ratio of -2.03 and a beta of 1.56.

Prelude Therapeutics (NASDAQ:PRLDGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.05. Research analysts expect that Prelude Therapeutics will post -1.84 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

A number of large investors have recently added to or reduced their stakes in PRLD. Barclays PLC boosted its position in Prelude Therapeutics by 120.0% during the third quarter. Barclays PLC now owns 13,316 shares of the company’s stock worth $42,000 after purchasing an additional 7,264 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Prelude Therapeutics during the fourth quarter worth $56,000. Pale Fire Capital SE bought a new position in shares of Prelude Therapeutics in the third quarter worth $95,000. Acadian Asset Management LLC grew its position in shares of Prelude Therapeutics by 42.7% in the first 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 in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Prelude Therapeutics during the 1st quarter valued at $119,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

About Prelude Therapeutics

(Get Free Report)

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.

See Also

Receive News & Ratings for Prelude Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prelude Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.