Prelude Therapeutics (NASDAQ:PRLD) Given “Market Outperform” Rating at JMP Securities

JMP Securities restated their market outperform rating on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Prelude Therapeutics in a report on Tuesday, April 8th.

Prelude Therapeutics Stock Up 1.6 %

Shares of PRLD opened at $0.90 on Tuesday. Prelude Therapeutics has a 12-month low of $0.61 and a 12-month high of $6.80. The firm has a market capitalization of $50.86 million, a price-to-earnings ratio of -0.51 and a beta of 1.35. The stock’s 50-day moving average price is $0.75 and its 200 day moving average price is $1.02.

Prelude Therapeutics (NASDAQ:PRLD) last posted its earnings results on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.11. The company had revenue of $4.00 million for the quarter. Equities research analysts expect that Prelude Therapeutics will post -1.81 EPS for the current year.

Insider Buying and Selling at Prelude Therapeutics

In other news, insider Andrew Combs acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $0.69 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the insider now owns 480,123 shares in the company, valued at $331,284.87. This trade represents a 26.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Krishna Vaddi bought 47,500 shares of the stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $0.71 per share, with a total value of $33,725.00. Following the purchase, the chief executive officer now directly owns 1,214,775 shares of the company’s stock, valued at approximately $862,490.25. This represents a 4.07 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 822,500 shares of company stock worth $568,475. Company insiders own 62.80% of the company’s stock.

Hedge Funds Weigh In On Prelude Therapeutics

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new position in Prelude Therapeutics in the fourth quarter valued at approximately $26,000. Barclays PLC lifted its position in Prelude Therapeutics by 86.0% in the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after acquiring an additional 12,564 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Prelude Therapeutics by 925.0% during the 4th quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock worth $78,000 after purchasing an additional 55,183 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Prelude Therapeutics by 747.6% in the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock valued at $159,000 after purchasing an additional 109,281 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Prelude Therapeutics by 1,289.8% in the fourth quarter. Rhumbline Advisers now owns 166,830 shares of the company’s stock valued at $213,000 after purchasing an additional 154,826 shares in the last quarter. Institutional investors 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.