Prelude Therapeutics shares surge 10.91% intraday after FDA approves PRT12396 NDA and Citizens Jmp raises price target to $6.

Prelude Therapeutics surged 10.91% intraday, driven by its Q1 2025 financial results showing $12.14 million revenue (73.43% YoY growth) and a $99.5 million loss (21.76% reduction), alongside FDA approval for PRT12396’s new drug application. The stock also gained momentum after Citizens Jmp upgraded its price target from $3.00 to $6.00, maintaining a “market outperform” rating with a potential 66.7% upside.