Wall Street Zen cut shares of Prelude Therapeutics (NASDAQ:PRLD – Free Report) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.
Other analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Wednesday, July 29th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. started coverage on shares of Prelude Therapeutics in a report on Thursday, September 17th. They issued an “overweight” rating and a $12.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Prelude Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $8.75.
View Our Latest Report on Prelude Therapeutics
Prelude Therapeutics Price Performance
Prelude Therapeutics (NASDAQ:PRLD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The firm had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.70 million. On average, analysts anticipate that Prelude Therapeutics will post -0.61 EPS for the current year.
Institutional Trading of Prelude Therapeutics
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Prelude Therapeutics during the second quarter valued at approximately $9,581,000. EcoR1 Capital LLC acquired a new stake in shares of Prelude Therapeutics in the first quarter worth $3,239,000. ADAR1 Capital Management LLC purchased a new position in shares of Prelude Therapeutics in the 2nd quarter valued at $4,802,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Prelude Therapeutics during the second quarter worth about $669,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Prelude Therapeutics in the second quarter worth about $363,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.
About Prelude Therapeutics
Prelude Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company’s research is centered on small-molecule therapies designed to target biological mechanisms that cancer cells depend on, including epigenetic regulators and other proteins involved in tumor growth and survival.
Prelude’s development programs have included PRT2527, a selective cyclin-dependent kinase 9 (CDK9) inhibitor; PRT3789, a SMARCA2 protein degrader; and PRT1419, an inhibitor of the MCL1 protein.
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