Barclays cuts Prelude to underweight, cites lack of near-term catalysts

duoogle Barclays has downgraded Prelude Therapeutics ( NASDAQ: PRLD ) to underweight from equal weight, citing a lack of near-to-mid-term high-impact catalysts. Barclays noted that Prelude was expected to present Phase 1 updates in the second half of 2024 for its SMARCA2 degrader and CDK9 inhibitor programs. “While Prelude’s upcoming catalysts are intriguing, we currently find them hard to derisk vs.

other catalysts for our equal weight and overweight rated stocks,” Barclays added. The investment bank maintained its price target of $3. More on Prelude Therapeutics Seeking Alpha’s Quant Rating on Prelude Therapeutics Historical earnings data for Prelude Therapeutics Financial information for Prelude Therapeutics.