Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Acquires 100,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi purchased 100,000 shares of Prelude Therapeutics stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average price of $0.93 per share, with a total value of $93,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,167,275 shares in the company, valued at approximately $1,085,565.75. This represents a 9.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Prelude Therapeutics Price Performance

NASDAQ:PRLD opened at $1.30 on Friday. Prelude Therapeutics Incorporated has a 1-year low of $0.80 and a 1-year high of $6.80. The business has a 50 day moving average of $1.21 and a 200 day moving average of $3.17. The company has a market capitalization of $71.55 million, a price-to-earnings ratio of -0.73 and a beta of 1.49.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.05. The business had revenue of $3.00 million for the quarter. As a group, sell-side analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PRLD shares. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Prelude Therapeutics in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price (down from $7.00) on shares of Prelude Therapeutics in a research report on Wednesday, December 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRLD. Barclays PLC boosted its position in Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after buying an additional 12,564 shares during the period. Geode Capital Management LLC raised its stake in shares of Prelude Therapeutics by 8.2% during the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after acquiring an additional 29,765 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Prelude Therapeutics during the third quarter worth about $100,000. State Street Corp grew its stake in shares of Prelude Therapeutics by 35.1% in the third quarter. State Street Corp now owns 286,046 shares of the company’s stock worth $592,000 after purchasing an additional 74,300 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Prelude Therapeutics by 885.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock valued at $362,000 after purchasing an additional 157,218 shares during the period. 79.72% of the stock is owned by hedge funds and other institutional investors.

Prelude Therapeutics Company Profile

Prelude Therapeutics Incorporated, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT1419, a myeloid cell leukemia-1 inhibitor, which is in Phase 1 clinical trial for the treatment of selected relapsed/refractory myeloid or B-cell malignancies; PRT2527, a cyclin-dependent kinase, which is in Phase 1 clinical trial for the treatment of advanced solid tumors; PRT3645, a cyclin-dependent kinase 4/6 inhibitor, which is in Phase 1 clinical trial for the treatment of advanced and metastatic solid tumors; and PRT3879, a SMARCA2 selective protein degrader, which is in Phase 2/3 clinical trial for the treatment of advanced and metastatic solid tumors with loss of SMARCA4 due to truncating mutation and/or deletion.