Prelude Therapeutics (NASDAQ:PRLD) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Prelude Therapeutics (NASDAQ:PRLD) in a report released on Thursday, Marketbeat.com reports. The firm issued an overweight rating and a $12.00 target price on the stock.

A number of other research firms have also recently weighed in on PRLD. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Prelude Therapeutics in a report on Wednesday, July 29th. Wall Street Zen raised Prelude Therapeutics from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Prelude Therapeutics Stock Up 6.6%

Shares of PRLD opened at $4.87 on Thursday. Prelude Therapeutics has a 52-week low of $0.98 and a 52-week high of $6.83. The company has a 50-day simple moving average of $5.02 and a 200-day simple moving average of $4.43. The company has a market capitalization of $388.63 million, a PE ratio of -6.67 and a beta of 0.97.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The company had revenue of $5.70 million for the quarter, compared to analyst estimates of $5.70 million. On average, research analysts anticipate that Prelude Therapeutics will post -0.61 EPS for the current year.

Institutional Trading of Prelude Therapeutics

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in shares of Prelude Therapeutics in the second quarter valued at approximately $317,000. Spark Investment Management LLC acquired a new position in shares of Prelude Therapeutics during the 2nd quarter worth approximately $56,000. Bank of America Corp DE purchased a new stake in Prelude Therapeutics in the 2nd quarter valued at approximately $127,000. ADAR1 Capital Management LLC purchased a new stake in Prelude Therapeutics in the 2nd quarter valued at approximately $4,802,000. Finally, Hsbc Holdings PLC acquired a new stake in Prelude Therapeutics during the 2nd quarter valued at $74,000. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Prelude Therapeutics Company Profile

Prelude Therapeutics Inc is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company’s research is centered on small-molecule therapies designed to target biological mechanisms that cancer cells depend on, including epigenetic regulators and other proteins involved in tumor growth and survival.

Prelude’s development programs have included PRT2527, a selective cyclin-dependent kinase 9 (CDK9) inhibitor; PRT3789, a SMARCA2 protein degrader; and PRT1419, an inhibitor of the MCL1 protein.