Prelude Therapeutics (NASDAQ:PRLD) Share Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Prelude Therapeutics Incorporated (NASDAQ:PRLD)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $3.97 and traded as high as $4.16. Prelude Therapeutics shares last traded at $4.14, with a volume of 475,051 shares.

Analyst Ratings Changes

Several research firms have recently weighed in on PRLD. JPMorgan Chase & Co. initiated coverage on shares of Prelude Therapeutics in a research report on Thursday, September 17th. They set an “overweight” rating and a $12.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Prelude Therapeutics in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Tuesday. Citigroup reissued a “market outperform” rating on shares of Prelude Therapeutics in a research note on Wednesday, October 14th. Finally, Wall Street Zen cut shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Prelude Therapeutics Trading Down 5.4%

The firm has a market capitalization of $309.64 million, a price-to-earnings ratio of -5.32 and a beta of 0.97. The stock has a fifty day moving average of $4.45 and a 200-day moving average of $3.99.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The company had revenue of $5.70 million for the quarter, compared to analysts’ expectations of $5.70 million. As a group, equities research analysts forecast that Prelude Therapeutics Incorporated will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PRLD. Spark Investment Management LLC acquired a new position in Prelude Therapeutics in the 2nd quarter worth approximately $56,000. GSA Capital Partners LLP acquired a new stake in Prelude Therapeutics in the second quarter valued at approximately $68,000. Hsbc Holdings PLC bought a new position in shares of Prelude Therapeutics during the 2nd quarter valued at $74,000. Bank of America Corp DE acquired a new stake in shares of Prelude Therapeutics in the 2nd quarter valued at $127,000. Finally, Deutsche Bank AG acquired a new stake in shares of Prelude Therapeutics in the 2nd quarter valued at $148,000. 79.72% of the stock is currently owned by institutional investors and hedge funds.

About Prelude Therapeutics

Prelude Therapeutics Incorporated is a clinical-stage biopharmaceutical company focused on discovering and developing precision medicines for cancer. The company uses insights into cancer biology to design small-molecule therapies intended to target vulnerabilities in tumor cells while potentially improving selectivity over healthy tissue.

Prelude’s research and development programs have included targeted therapies aimed at cancer-related proteins and signaling pathways, including cyclin-dependent kinase 9 (CDK9) and other regulators of tumor growth and survival.