Citizens Jmp Issues Positive Forecast for Prelude Therapeutics (NASDAQ:PRLD) Stock Price

Prelude Therapeutics (NASDAQ:PRLD) had its price objective upped by Citizens Jmp from $3.00 to $6.00 in a report issued on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Prelude Therapeutics Stock Up 5.8%

PRLD opened at $3.81 on Wednesday. The stock has a market capitalization of $239.52 million, a price-to-earnings ratio of -2.95 and a beta of 0.79. Prelude Therapeutics has a twelve month low of $0.61 and a twelve month high of $4.22. The company has a 50-day simple moving average of $2.44 and a 200 day simple moving average of $1.86.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.13. The firm had revenue of $5.64 million during the quarter, compared to the consensus estimate of $20.50 million. Sell-side analysts anticipate that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Shay Capital LLC bought a new position in Prelude Therapeutics in the 2nd quarter valued at approximately $61,000. Vanguard Group Inc. boosted its position in Prelude Therapeutics by 6.5% in the third quarter. Vanguard Group Inc. now owns 992,854 shares of the company’s stock valued at $1,430,000 after buying an additional 60,284 shares in the last quarter. Millennium Management LLC grew its stake in shares of Prelude Therapeutics by 361.7% during the third quarter. Millennium Management LLC now owns 1,147,044 shares of the company’s stock worth $1,652,000 after buying an additional 898,621 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Prelude Therapeutics during the fourth quarter worth $794,000. Finally, Geode Capital Management LLC increased its holdings in shares of Prelude Therapeutics by 25.4% during the fourth quarter. Geode Capital Management LLC now owns 272,886 shares of the company’s stock worth $792,000 after buying an additional 55,318 shares in the last quarter. 79.72% of the stock is owned by institutional investors.

Prelude Therapeutics Company Profile

Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude’s pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.

Among Prelude’s lead programs is PRT2527, a selective PI3K?alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.