Skip to main content

Zacks Investment Research Upgrades Prelude Therapeutics (NASDAQ:PRLD) to Buy

Last updated on Tuesday, May 4, 2021 | 2021 MarketBeat

Prelude Therapeutics (NASDAQ:PRLD) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued on Tuesday, reports. The firm presently has a $46.00 price target on the stock. Zacks Investment Research's price target would indicate a potential upside of 13.64% from the stock's current price.

According to Zacks, "Prelude Therapeutics Incorporated is a clinical-stage precision oncology company. It is focused on discovering and developing small molecule therapies optimized to target the key driver mechanisms in cancers with high unmet need. Prelude Therapeutics Incorporated is based in Wilmington, United States. "

A number of other equities research analysts also recently issued reports on PRLD. Barclays assumed coverage on shares of Prelude Therapeutics in a research report on Tuesday, March 9th. They set an "overweight" rating and a $80.00 price target for the company. HC Wainwright assumed coverage on shares of Prelude Therapeutics in a research note on Monday. They set a "buy" rating and a $62.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of Prelude Therapeutics from $47.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. The stock has a consensus rating of "Buy" and a consensus target price of $54.17.

Shares of NASDAQ:PRLD opened at $40.48 on Tuesday. Prelude Therapeutics has a 52 week low of $23.69 and a 52 week high of $95.38. The company has a 50-day moving average price of $41.63 and a 200 day moving average price of $56.53.

In other Prelude Therapeutics news, insider Peggy Scherle sold 15,370 shares of the company's stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $39.31, for a total value of $604,194.70. Following the transaction, the insider now directly owns 15,383 shares in the company, valued at $604,705.73. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David J. Mauro sold 25,000 shares of the business's stock in a transaction dated Monday, April 19th. The shares were sold at an average price of $30.89, for a total transaction of $772,250.00. Following the completion of the sale, the insider now directly owns 25,000 shares of the company's stock, valued at approximately $772,250. The disclosure for this sale can be found here. Insiders have sold a total of 44,493 shares of company stock valued at $1,542,386 in the last quarter.

Several institutional investors have recently bought and sold shares of the business. Morgan Stanley acquired a new position in Prelude Therapeutics during the third quarter worth $396,000. Strs Ohio acquired a new position in Prelude Therapeutics during the fourth quarter worth $157,000. BlackRock Inc. raised its holdings in Prelude Therapeutics by 920.2% during the fourth quarter. BlackRock Inc. now owns 637,133 shares of the company's stock worth $45,587,000 after buying an additional 574,683 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Prelude Therapeutics in the fourth quarter valued at about $515,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Prelude Therapeutics in the fourth quarter valued at about $615,000. Hedge funds and other institutional investors own 76.21% of the company's stock.

Prelude Therapeutics Company Profile

Prelude Therapeutics Incorporated, a clinical-stage precision oncology company, focuses on the discovery and development of small molecule therapies optimized to target the key driver mechanisms in cancers. It is developing PRT543 that is in Phase 1 clinical trials in select solid tumors and myeloid malignancies in patients who are refractory to or intolerant of established therapies; and PRT811, which is in Phase 1 clinical trials in solid tumors, including glioblastoma multiforme and primary central nervous system lymphomas.

Featured Article: What does cost of debt say about a company’s financial health?

Get a free copy of the Zacks research report on Prelude Therapeutics (PRLD)

For more information about research offerings from Zacks Investment Research, visit

Analyst Recommendations for Prelude Therapeutics (NASDAQ:PRLD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: What is Elliott Wave theory?

7 Undervalued Stocks That Deserve More Attention

With the Dow Jones Industrial Average (DJIA) hitting new highs seemingly every day, it may seem like the wrong time to be looking at undervalued stocks. Or is it?

From cannabis to cryptocurrencies, and let’s not forget electric vehicles the market seems to be blowing bubbles wherever you look. And that’s why now may be exactly the right time to zig while the market is sagging. And that means looking for undervalued stocks.

But finding undervalued stocks is subjective. Some analysts use specific fundamental metrics. Others use technical analysis.

However, the general idea is that you’re looking for stocks that are trading below their fair value.

In some cases, these may be stocks whose financials are stronger than other stocks in their sector, but it’s trading at a lower price. In other cases, a company may have potential that is not reflected in its stock price. Put another way, undervalued stocks are stocks that have room to grow. That’s why they deserve a place in your portfolio.

And that’s why we’ve put together this special presentation on stocks that are undervalued right at this time. An investment in these companies is likely to be rewarded because the stocks are moving under the radar from the broader market.

View the "7 Undervalued Stocks That Deserve More Attention".

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.