Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Up 18.1% in October

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,940,000 shares, an increase of 18.1% from the October 15th total of 2,490,000 shares. Currently, 13.9% of the shares of the company are sold short. Based on an average trading volume of 340,700 shares, the days-to-cover ratio is currently 8.6 days.

Prelude Therapeutics Trading Up 1.0 %

Prelude Therapeutics stock traded up $0.01 during midday trading on Friday, reaching $1.04. 426,128 shares of the stock traded hands, compared to its average volume of 396,581. Prelude Therapeutics has a fifty-two week low of $1.00 and a fifty-two week high of $6.80. The firm has a market cap of $57.23 million, a price-to-earnings ratio of -0.58 and a beta of 1.56. The firm has a fifty day moving average price of $2.05 and a two-hundred day moving average price of $3.67.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.05. The business had revenue of $3.00 million during the quarter. Analysts anticipate that Prelude Therapeutics will post -1.82 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRLD. Vanguard Group Inc. boosted its holdings in shares of Prelude Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after acquiring an additional 10,143 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Prelude Therapeutics by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company’s stock worth $1,138,000 after purchasing an additional 27,155 shares during the period. Geode Capital Management LLC boosted its stake in Prelude Therapeutics by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after purchasing an additional 29,765 shares in the last quarter. State Street Corp increased its position in shares of Prelude Therapeutics by 35.1% during the 3rd quarter. State Street Corp now owns 286,046 shares of the company’s stock valued at $592,000 after purchasing an additional 74,300 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Prelude Therapeutics by 885.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock worth $362,000 after buying an additional 157,218 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research note on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $7.00 price objective on shares of Prelude Therapeutics in a research report on Monday, September 16th.

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.