Weiss Ratings Reaffirms "Sell (D-)" Rating for Prelude Therapeutics (NASDAQ:PRLD)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Prelude Therapeutics (NASDAQ:PRLD), indicating ongoing concerns about the company's stock performance.
• JMP Securities reduced their target price for Prelude Therapeutics from $4.00 to $3.00, while HC Wainwright maintained a "buy" rating with a target price of $5.00.
• Prelude Therapeutics' stock is currently valued at $1.42, down 1.4%, with a 52-week range from $0.61 to $2.06.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. JMP Securities cut their target price on Prelude Therapeutics from $4.00 to $3.00 and set a "market outperform" rating on the stock in a research report on Monday, August 18th. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Prelude Therapeutics currently has a consensus rating of "Hold" and an average price target of $4.00.

Prelude Therapeutics Stock Down 1.4%

Shares of NASDAQ PRLD opened at $1.42 on Wednesday. Prelude Therapeutics has a fifty-two week low of $0.61 and a fifty-two week high of $2.06. The business has a 50 day moving average price of $1.13 and a two-hundred day moving average price of $0.94. The firm has a market cap of $80.37 million, a PE ratio of -0.87 and a beta of 1.28.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.04. On average, analysts anticipate that Prelude Therapeutics will post -1.81 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of PRLD. Simplex Trading LLC raised its stake in Prelude Therapeutics by 121.2% during the first quarter. Simplex Trading LLC now owns 41,846 shares of the company's stock valued at $32,000 after buying an additional 22,932 shares in the last quarter. AQR Capital Management LLC raised its stake in Prelude Therapeutics by 170.7% during the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company's stock valued at $26,000 after buying an additional 21,330 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Prelude Therapeutics by 9.1% during the 1st quarter. Acadian Asset Management LLC now owns 529,327 shares of the company's stock worth $405,000 after purchasing an additional 43,946 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $39,000. Finally, XTX Topco Ltd raised its position in shares of Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company's stock worth $34,000 after purchasing an additional 17,873 shares during the period. Institutional investors and hedge funds own 79.72% of the company's stock.

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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