Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Update

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 2,940,000 shares, an increase of 18.1% from the October 15th total of 2,490,000 shares. Approximately 13.9% of the company's stock are short sold. Based on an average daily volume of 340,700 shares, the short-interest ratio is currently 8.6 days.

Institutional Investors Weigh In On Prelude Therapeutics

Several large investors have recently made changes to their positions in PRLD. Vanguard Group Inc. increased its position in Prelude Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company's stock valued at $4,821,000 after acquiring an additional 10,143 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Prelude Therapeutics by 5.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company's stock valued at $1,138,000 after purchasing an additional 27,155 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Prelude Therapeutics by 8.2% in the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company's stock worth $811,000 after purchasing an additional 29,765 shares during the period. State Street Corp grew its position in Prelude Therapeutics by 35.1% in the 3rd quarter. State Street Corp now owns 286,046 shares of the company's stock valued at $592,000 after buying an additional 74,300 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Prelude Therapeutics by 885.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company's stock worth $362,000 after buying an additional 157,218 shares in the last quarter. Institutional investors and hedge funds own 79.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRLD. JMP Securities restated a "market outperform" rating and issued a $7.00 price target on shares of Prelude Therapeutics in a research note on Monday, September 16th. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price target on shares of Prelude Therapeutics in a research report on Friday, November 8th.

Prelude Therapeutics Price Performance

Shares of NASDAQ:PRLD traded up $0.01 during trading on Friday, reaching $1.04. 426,128 shares of the company's stock traded hands, compared to its average volume of 396,581. The stock has a market capitalization of $57.23 million, a P/E ratio of -0.58 and a beta of 1.56. Prelude Therapeutics has a 12 month low of $1.00 and a 12 month high of $6.80. The company has a 50 day moving average of $2.05 and a 200-day moving average of $3.67.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05. The company had revenue of $3.00 million during the quarter. Equities research analysts predict that Prelude Therapeutics will post -1.82 earnings per share for the current fiscal year.

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.

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