Short Interest in Prelude Therapeutics Incorporated (NASDAQ:PRLD) Expands By 18.1%

Prelude Therapeutics Incorporated (NASDAQ:PRLD) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,940,000 shares, an increase of 18.1% from the October 15th total of 2,490,000 shares. Based on an average daily volume of 340,700 shares, the short-interest ratio is currently 8.6 days. Currently, 13.9% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRLD. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Prelude Therapeutics in a report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research note on Friday, November 8th.

Prelude Therapeutics Stock Performance

Shares of NASDAQ PRLD traded up $0.01 during midday trading on Friday, reaching $1.04. 426,128 shares of the company’s stock were exchanged, compared to its average volume of 396,581. The stock has a market capitalization of $57.23 million, a PE ratio of -0.58 and a beta of 1.56. Prelude Therapeutics has a 52-week low of $1.00 and a 52-week high of $6.80. The business’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $3.67.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.05. The business had revenue of $3.00 million for the quarter. Analysts predict that Prelude Therapeutics will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Prelude Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after purchasing an additional 6,615 shares during the last quarter. Vanguard Group Inc. increased its holdings in Prelude Therapeutics by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after buying an additional 10,143 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Prelude Therapeutics by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after buying an additional 14,226 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Prelude Therapeutics by 32.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock worth $133,000 after buying an additional 15,682 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Prelude Therapeutics by 103.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after acquiring an additional 14,769 shares in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

About Prelude Therapeutics

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.