Wall Street Zen Upgrades Prelude Therapeutics (NASDAQ:PRLD) to Hold

Prelude Therapeutics (NASDAQ:PRLD) was upgraded by Wall Street Zen to a “hold” rating in a research note issued on Saturday.

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

Prelude Therapeutics Stock Down 9.2%

NASDAQ:PRLD opened at $1.19 on Friday. Prelude Therapeutics has a 52 week low of $0.61 and a 52 week high of $1.96. The stock’s fifty day moving average is $1.19 and its two-hundred day moving average is $0.97. The company has a market capitalization of $67.35 million, a P/E ratio of -0.73 and a beta of 1.28.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.04. Sell-side analysts anticipate that Prelude Therapeutics will post -1.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Simplex Trading LLC lifted its holdings in Prelude Therapeutics by 121.2% during the 1st quarter. Simplex Trading LLC now owns 41,846 shares of the company’s stock worth $32,000 after buying an additional 22,932 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock worth $405,000 after acquiring an additional 43,946 shares during the period. Jane Street Group LLC acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at $74,000. Shay Capital LLC acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at $61,000. Finally, Marshall Wace LLP purchased a new position in Prelude Therapeutics in the second quarter valued at $34,000. 79.72% of the stock is owned by hedge funds and other 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.