Prelude Therapeutics (NASDAQ:PRLD) Shares Up 2.3%

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report)'s share price rose 2.3% during trading on Monday . The company traded as high as $5.03 and last traded at $4.96. Approximately 401,831 shares traded hands during mid-day trading, an increase of 305% from the average daily volume of 99,205 shares. The stock had previously closed at $4.85.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays lowered Prelude Therapeutics from an "equal weight" rating to an "underweight" rating and set a $3.00 price target on the stock. in a report on Thursday, June 20th. HC Wainwright reiterated a "neutral" rating and issued a $5.00 target price on shares of Prelude Therapeutics in a report on Tuesday.

Prelude Therapeutics Stock Performance

The stock has a market cap of $226.39 million, a PE ratio of -2.87 and a beta of 1.53. The business has a 50 day moving average price of $5.16 and a two-hundred day moving average price of $4.52.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.46). As a group, research analysts anticipate that Prelude Therapeutics Incorporated will post -1.85 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 the stock. Boxer Capital LLC grew 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 worth $10,967,000 after acquiring an additional 73,269 shares during the period. Pale Fire Capital SE raised its position in shares of Prelude Therapeutics by 106.6% in the fourth 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 period. Kennedy Capital Management LLC purchased a new stake in shares of Prelude Therapeutics during the 1st quarter valued at approximately $119,000. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 14,769 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Prelude Therapeutics by 2.8% during the second 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. 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.