HC Wainwright Reaffirms Buy Rating for Prelude Therapeutics (NASDAQ:PRLD)

HC Wainwright restated their buy rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $5.00 price objective on the stock.

Separately, JMP Securities reissued a “market outperform” rating and issued a $7.00 price objective on shares of Prelude Therapeutics in a research note on Monday, September 16th.

Prelude Therapeutics Trading Down 6.3 %

PRLD stock traded down $0.08 during trading on Friday, hitting $1.19. The company had a trading volume of 537,041 shares, compared to its average volume of 155,970. The business has a 50 day moving average of $2.45 and a 200 day moving average of $3.77. The firm has a market capitalization of $65.47 million, a price-to-earnings ratio of -0.67 and a beta of 1.56. Prelude Therapeutics has a fifty-two week low of $1.10 and a fifty-two week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.46). As a group, equities analysts predict that Prelude Therapeutics will post -1.85 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. 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. Dimensional Fund Advisors LP lifted its holdings in shares of Prelude Therapeutics by 103.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock valued at $111,000 after purchasing an additional 14,769 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Prelude Therapeutics in the 1st quarter valued at $119,000. Exchange Traded Concepts LLC increased its stake in Prelude Therapeutics by 32.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock worth $133,000 after purchasing an additional 15,682 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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 buying an additional 14,226 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

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.