Prelude Therapeutics' (PRLD) Buy Rating Reiterated at HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright's price objective points to a potential upside of 233.33% from the company's current price.

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 Price Performance

Shares of PRLD stock traded down $0.02 during trading on Monday, reaching $1.50. The company had a trading volume of 264,572 shares, compared to its average volume of 141,445. The firm's 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $3.99. Prelude Therapeutics has a one year low of $1.48 and a one year high of $6.80. The company has a market capitalization of $82.53 million, a PE ratio of -0.83 and a beta of 1.48.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.46). Analysts forecast that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Several institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted 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 valued at $133,000 after buying an additional 15,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Prelude Therapeutics by 103.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company's stock valued at $111,000 after buying an additional 14,769 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Prelude Therapeutics by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company's stock valued at $1,990,000 after buying an additional 14,226 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in Prelude Therapeutics in the 1st quarter valued at $119,000. Finally, Acadian Asset Management LLC raised its position in Prelude Therapeutics by 42.7% in the 1st 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 during the last quarter. Institutional investors and hedge funds 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.