Prelude Therapeutics Incorporated (PRLD) did well last session?

A share of Prelude Therapeutics Incorporated (NASDAQ:PRLD) closed at $6.23 per share on Wednesday, up from $6.06 day before. While Prelude Therapeutics Incorporated has overperformed by 2.81%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PRLD fell by -17.48%, with highs and lows ranging from $8.90 to $3.87, whereas the simple moving average fell by -2.07% in the last 200 days.

On November 21, 2022, BofA Securities Downgraded Prelude Therapeutics Incorporated (NASDAQ: PRLD) to Underperform. A report published by Morgan Stanley on September 09, 2022, Downgraded its rating to ‘Equal-Weight’ for PRLD. Jefferies also rated PRLD shares as ‘Buy’, setting a target price of $9 on the company’s shares in an initiating report dated July 29, 2022. BofA Securities March 15, 2022d the rating to Neutral on March 15, 2022, and set its price target from $50 to $10. Barclays February 28, 2022d its ‘Overweight’ rating to ‘Equal Weight’ for PRLD, as published in its report on February 28, 2022. BofA Securities also rated the stock as ‘Buy’.

Analysis of Prelude Therapeutics Incorporated (PRLD)

Prelude Therapeutics Incorporated’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -50.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.

For any stock, average volume can be an extremely valuable indicator of volatility, and PRLD is registering an average volume of 63.71K. On a monthly basis, the volatility of the stock is set at 11.13%, whereas on a weekly basis, it is put at 12.20%, with a loss of -2.66% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.00, showing growth from the present price of $6.23, which can serve as yet another indication of whether PRLD is worth investing in or should be passed over.

How Do You Analyze Prelude Therapeutics Incorporated Shares?

Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 78.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.

Are institutional investors increasing their holdings in PRLD shares?

The recent increase in stakes in PRLD appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co made another decreased to its shares in PRLD during the first quarter, downing its stake by -8.83%. During the last quarter, the company dropped down -276,815 additional shares for a total stake of worth $16.17 million, bringing number of shares owned by the company to 2,856,934.

During the first quarter, UBS Asset Management Switzerland subtracted a -66,651 position in PRLD. FIAM LLC purchased an additional 0.23 million shares in the last quarter, increasing its holdings by 15.14%, now holding 1.73 million shares worth $9.81 million. At the end of the first quarter, The Vanguard Group, Inc. increased its PRLD holdings by 0.03% and now holds 0.89 million PRLD shares valued at $5.06 million with the added 269.0 shares during the period. PRLD shares are owned by institutional investors to the tune of 78.70% at present.