UPDATE: Barclays Downgrades Prelude Therapeutics (PRLD) to Equalweight

Barclays analyst Peter Lawson downgraded Prelude Therapeutics (NASDAQ: PRLD) from Overweight to Equalweight with a price target of $12.00 (from $20.00).

The analyst comments "We are downgrading PRLD from Overweight to Equal Weight and decreasing our price target from $20 to $12. Post 4Q-updates, we have reassessed the upside/downside catalysts across our space, and we see better risk/reward from the catalysts for our OW stocks versus PRLD. We have increased our discount rate to capture both the lower impact catalysts this year versus peers and a more challenging capital raising environment, consequently our price target is reduced and our rating is
downgraded to EW."

For an analyst ratings summary and ratings history on Prelude Therapeutics click here. For more ratings news on Prelude Therapeutics click here.

Shares of Prelude Therapeutics closed at $10.39 yesterday.

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