Prelude Therapeutics (NASDAQ:PRLD) Upgraded at Wall Street Zen

Key Points

• Prelude Therapeutics has been upgraded to a "hold" rating by Wall Street Zen, amidst mixed ratings from other analysts, including a "buy" from HC Wainwright and a "sell" from Weiss Ratings.
• Shares of Prelude Therapeutics decreased by 9.2%, with the stock currently trading around $1.19, having a 12-month low of $0.61 and a high of $1.96.
• Institutional investors hold 79.72% of the company's stock, indicating strong interest and increased positions from several large investors in recent months.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) was upgraded by equities researchers at Wall Street Zen to a "hold" rating in a report released on Saturday.

A number of other research analysts have also commented on the company. HC Wainwright reiterated a "buy" rating and set a $5.00 price target on shares of Prelude Therapeutics in a report on Tuesday, September 23rd. JMP Securities cut their target price on Prelude Therapeutics from $4.00 to $3.00 and set a "market outperform" rating for the company in a research note on Monday, August 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Prelude Therapeutics in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.00.

Prelude Therapeutics Stock Down 9.2%

Shares of PRLD stock opened at $1.19 on Friday. Prelude Therapeutics has a 12 month low of $0.61 and a 12 month high of $1.96. The firm has a market cap of $67.35 million, a PE ratio of -0.73 and a beta of 1.28. The stock has a 50 day moving average of $1.19 and a 200-day moving average of $0.97.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.41) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.04. As a group, equities analysts predict that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRLD. AQR Capital Management LLC grew its position in Prelude Therapeutics by 170.7% in the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company's stock valued at $26,000 after acquiring an additional 21,330 shares during the period. Simplex Trading LLC grew its position in Prelude Therapeutics by 121.2% in the first quarter. Simplex Trading LLC now owns 41,846 shares of the company's stock valued at $32,000 after acquiring an additional 22,932 shares during the period. Marshall Wace LLP bought a new stake in Prelude Therapeutics in the second quarter valued at $34,000. XTX Topco Ltd grew its position in Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company's stock valued at $34,000 after acquiring an additional 17,873 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Prelude Therapeutics in the second quarter valued at $39,000. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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