Prelude Therapeutics (NASDAQ:PRLD) Stock Rating Reaffirmed by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report published on Monday morning, Benzinga reports. JMP Securities currently has a $7.00 price objective on the stock.

PRLD has been the subject of several other research reports. HC Wainwright reiterated a neutral rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a research report on Monday. Barclays downgraded shares of Prelude Therapeutics from an equal weight rating to an underweight rating and set a $3.00 target price on the stock. in a research note on Thursday, June 20th.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $2.55 on Monday. Prelude Therapeutics has a fifty-two week low of $1.66 and a fifty-two week high of $6.80. The firm has a 50 day moving average price of $5.16 and a 200-day moving average price of $4.49. The firm has a market cap of $107.30 million, a price-to-earnings ratio of -1.36 and a beta of 1.52.

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

Hedge Funds Weigh In On Prelude Therapeutics

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC increased its position in Prelude Therapeutics by 42.7% during the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock valued at $104,000 after purchasing an additional 6,615 shares during the period. Pale Fire Capital SE lifted its holdings in Prelude Therapeutics by 106.6% in the fourth quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock worth $271,000 after buying an additional 32,800 shares during the period. Vanguard Group Inc. lifted its holdings in Prelude Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock worth $4,821,000 after buying an additional 10,143 shares during the period. Boxer Capital LLC boosted its position in Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after acquiring an additional 73,269 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in shares of Prelude Therapeutics during the 1st quarter worth approximately $119,000. 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.