Prelude Therapeutics price target raised to $8 from $5 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Prelude Therapeutics (PRLD) to $8 from $5 and keeps a Buy rating on the shares after the company presented preclinical data on its KAT6A-selective degrader, PRT13722. PRT13722 drives a more complete shutdown of KAT6A regulatory pathways than dual KAT6A/B inhibitors, resulting in deeper anti-tumor activity across a wider range of breast cancer, the analyst tells investors in a research note. H.C. Wainwright believes PRT13722 appears to be “potentially best-in-class.”