Prelude Therapeutics (NASDAQ:PRLD) Trading Up 7.7%

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was up 7.7% during trading on Friday . The stock traded as high as $5.77 and last traded at $5.62. Approximately 57,997 shares traded hands during trading, a decline of 14% from the average daily volume of 67,165 shares. The stock had previously closed at $5.22.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PRLD shares. HC Wainwright downgraded shares of Prelude Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research report on Tuesday, February 20th. Morgan Stanley downgraded shares of Prelude Therapeutics from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $4.00 in a research report on Tuesday, December 19th. Finally, JMP Securities started coverage on shares of Prelude Therapeutics in a research report on Wednesday, March 13th. They set a “mkt outperform” rating and a $7.00 target price on the stock.

Prelude Therapeutics Trading Up 7.7 %

The firm’s 50-day simple moving average is $4.27 and its two-hundred day simple moving average is $3.58. The company has a market cap of $308.66 million, a PE ratio of -2.75 and a beta of 1.51.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.03. As a group, analysts predict that Prelude Therapeutics Incorporated will post -1.88 EPS for the current year.

Institutional Trading of Prelude Therapeutics

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of Prelude Therapeutics by 67.9% in the 3rd quarter. Royal Bank of Canada now owns 4,200 shares of the company’s stock valued at $28,000 after acquiring an additional 1,699 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Prelude Therapeutics by 1.5% during the first quarter. Renaissance Technologies LLC now owns 138,500 shares of the company’s stock worth $789,000 after buying an additional 2,000 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Prelude Therapeutics by 21.7% during the fourth quarter. Nuveen Asset Management LLC now owns 16,797 shares of the company’s stock worth $72,000 after buying an additional 2,993 shares in the last quarter. Rhumbline Advisers boosted its holdings in Prelude Therapeutics by 13.4% during the third quarter. Rhumbline Advisers now owns 33,815 shares of the company’s stock worth $104,000 after buying an additional 3,996 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Prelude Therapeutics by 1.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 313,165 shares of the company’s stock worth $2,071,000 after buying an additional 5,812 shares in the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.

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.