Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Andrew Combs Buys 100,000 Shares

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs acquired 100,000 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, March 25th. The stock was bought at an average cost of $0.69 per share, with a total value of $69,000.00. Following the acquisition, the insider now directly owns 480,123 shares of the company’s stock, valued at approximately $331,284.87. This trade represents a 26.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Prelude Therapeutics Stock Up 6.6 %

NASDAQ:PRLD opened at $0.68 on Friday. The business’s 50-day moving average price is $0.90 and its 200 day moving average price is $1.35. Prelude Therapeutics Incorporated has a 52-week low of $0.63 and a 52-week high of $6.80. The firm has a market cap of $37.60 million, a P/E ratio of -0.38 and a beta of 1.43.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.11. The business had revenue of $4.00 million during the quarter. Sell-side analysts expect that Prelude Therapeutics Incorporated will post -1.81 EPS for the current year.

Institutional Investors Weigh In On Prelude Therapeutics

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Prelude Therapeutics during the fourth quarter valued at $26,000. Barclays PLC boosted its holdings in shares of Prelude Therapeutics by 86.0% in the third quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after buying an additional 12,564 shares during the period. JPMorgan Chase & Co. increased its position in shares of Prelude Therapeutics by 925.0% in the fourth quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock worth $78,000 after acquiring an additional 55,183 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Prelude Therapeutics during the third quarter valued at approximately $100,000. Finally, Deutsche Bank AG lifted its position in shares of Prelude Therapeutics by 747.6% in the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock valued at $159,000 after acquiring an additional 109,281 shares in the last quarter. 79.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $4.00 price target (down from $7.00) on shares of Prelude Therapeutics in a research note on Wednesday, December 11th.

About Prelude Therapeutics

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.