Prelude Therapeutics (NASDAQ:PRLD) Receives "Sell (D-)" Rating from Weiss Ratings

Key Points

• Prelude Therapeutics has received a "Sell (D-)" rating from Weiss Ratings, highlighting concerns about its stock performance.
• JMP Securities cut its price target for Prelude Therapeutics from $4.00 to $3.00, while other analysts have given mixed ratings, with a consensus "Hold" rating and a price target of $4.00.
• The stock has experienced an 8.0% increase, with its current trading value at $1.62, well above its 12-month low of $0.61.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on PRLD. JMP Securities decreased their price target on shares of Prelude Therapeutics from $4.00 to $3.00 and set a "market outperform" rating on the stock in a report on Monday, August 18th. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price target on shares of Prelude Therapeutics in a report on Tuesday, September 23rd. Finally, Wall Street Zen raised shares of Prelude Therapeutics to a "hold" rating in a report on Saturday, October 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $4.00.

Prelude Therapeutics Stock Up 8.0%

PRLD stock opened at $1.62 on Friday. Prelude Therapeutics has a 12 month low of $0.61 and a 12 month high of $1.91. The firm has a market cap of $91.69 million, a P/E ratio of -0.99 and a beta of 1.28. The company's 50-day moving average price is $1.26 and its two-hundred day moving average price is $1.00.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.04. Equities analysts predict that Prelude Therapeutics will post -1.81 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Shay Capital LLC acquired a new position in shares of Prelude Therapeutics during the 2nd quarter valued at $61,000. Jane Street Group LLC acquired a new position in shares of Prelude Therapeutics during the 2nd quarter valued at $74,000. Marshall Wace LLP acquired a new position in Prelude Therapeutics during the second quarter worth $34,000. XTX Topco Ltd raised its holdings in Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company's stock worth $34,000 after buying an additional 17,873 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Prelude Therapeutics during the second quarter worth $39,000. Institutional investors and hedge funds own 79.72% of the company's stock.

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.

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