Prelude Therapeutics (NASDAQ:PRLD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Prelude Therapeutics (NASDAQ:PRLD) to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts also recently issued reports on PRLD. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a research report on Tuesday, September 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Wednesday, October 8th. Finally, JMP Securities reduced their price target on Prelude Therapeutics from $4.00 to $3.00 and set a “market outperform” rating on the stock in a research report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.00.

Prelude Therapeutics Trading Up 8.4%

Shares of NASDAQ:PRLD opened at $1.29 on Friday. The company has a market capitalization of $73.01 million, a PE ratio of -0.79 and a beta of 1.28. Prelude Therapeutics has a 12-month low of $0.61 and a 12-month high of $1.93. The business’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $0.98.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.04. Research analysts predict that Prelude Therapeutics will post -1.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its position in Prelude Therapeutics by 9.1% in the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after buying an additional 43,946 shares during the last quarter. Jane Street Group LLC acquired a new stake in Prelude Therapeutics during the 2nd quarter valued at approximately $74,000. Shay Capital LLC acquired a new stake in Prelude Therapeutics during the 2nd quarter valued at approximately $61,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Prelude Therapeutics in the 2nd quarter valued at $39,000. Finally, XTX Topco Ltd increased its stake in shares of Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after acquiring an additional 17,873 shares during the period. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

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.