HC Wainwright & Co. Downgrades Prelude Therapeutics to Neutral, Announces $5 Price Target
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Robert Burns downgraded Prelude Therapeutics (PRLD) from Buy to Neutral and set a price target of $5. This adjustment reflects a change in the firm's outlook on PRLD's stock.
February 20, 2024 | 2:03 pm
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NEGATIVE IMPACT
Prelude Therapeutics was downgraded from Buy to Neutral by HC Wainwright & Co., with a new price target of $5.
Analyst downgrades typically lead to a negative short-term impact on the stock price as they reflect a less optimistic view on the company's future performance. The setting of a $5 price target, depending on the current stock price, could imply a downside, further influencing investor sentiment negatively.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100