Prelude Therapeutics (NASDAQ:PRLD) Trading Up 1.3% – What’s Next?

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) were up 1.3% during trading on Thursday . The stock traded as high as $0.82 and last traded at $0.81. Approximately 87,143 shares traded hands during trading, a decline of 70% from the average daily volume of 290,888 shares. The stock had previously closed at $0.80.

Wall Street Analysts Forecast Growth

PRLD has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research note on Monday, May 5th. JMP Securities restated a “market outperform” rating and set a $4.00 price objective on shares of Prelude Therapeutics in a report on Tuesday, April 29th.

Prelude Therapeutics Stock Performance

The company has a market capitalization of $45.73 million, a PE ratio of -0.48 and a beta of 1.22. The business has a fifty day moving average price of $0.90 and a 200 day moving average price of $0.92.

Prelude Therapeutics (NASDAQ:PRLD) last posted its earnings results on Tuesday, May 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. Research analysts forecast that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

Several large investors have recently made changes to their positions in PRLD. Acadian Asset Management LLC lifted its holdings 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 valued at $405,000 after acquiring an additional 43,946 shares in the last quarter. AQR Capital Management LLC raised 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 purchasing an additional 21,330 shares during the period. Simplex Trading LLC lifted its stake in shares of Prelude Therapeutics by 121.2% during the first quarter. Simplex Trading LLC now owns 41,846 shares of the company’s stock worth $32,000 after purchasing an additional 22,932 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Prelude Therapeutics by 307.2% in the fourth quarter. Two Sigma Investments LP now owns 231,839 shares of the company’s stock worth $296,000 after buying an additional 174,906 shares during the period. Finally, Two Sigma Advisers LP boosted its position in shares of Prelude Therapeutics by 526.3% in the fourth quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock worth $382,000 after buying an additional 252,100 shares during the period. 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.