Prelude Therapeutics (NASDAQ:PRLD) Given "Buy" Rating at HC Wainwright

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright's price target would indicate a potential upside of 320.17% from the company's previous close.

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $7.00 price objective on shares of Prelude Therapeutics in a research report on Monday, September 16th.

Prelude Therapeutics Stock Performance

PRLD stock traded down $0.08 on Friday, reaching $1.19. The company's stock had a trading volume of 536,951 shares, compared to its average volume of 155,970. The business has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $3.79. Prelude Therapeutics has a 12-month low of $1.10 and a 12-month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.46) EPS for the quarter, hitting the consensus estimate of ($0.46). As a group, research analysts expect that Prelude Therapeutics will post -1.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in Prelude Therapeutics by 42.7% during the first quarter. Acadian Asset Management LLC now owns 22,110 shares of the company's stock valued at $104,000 after buying an additional 6,615 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Prelude Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company's stock worth $4,821,000 after purchasing an additional 10,143 shares during 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 worth $1,990,000 after purchasing an additional 14,226 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 14,769 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Prelude Therapeutics by 32.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company's stock valued at $133,000 after purchasing an additional 15,682 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors.

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.