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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi acquired 100,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $0.93 per share, with a total value of $93,000.00. Following the purchase, the chief executive officer now directly owns 1,167,275 shares of the company’s stock, valued at $1,085,565.75. This represents a 9.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Prelude Therapeutics Stock Up 46.4 %

NASDAQ PRLD opened at $1.30 on Monday. Prelude Therapeutics Incorporated has a 52-week low of $0.80 and a 52-week high of $6.80. The business’s 50-day moving average price is $1.21 and its 200 day moving average price is $3.17. The firm has a market cap of $71.55 million, a P/E ratio of -0.73 and a beta of 1.49.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05. The business had revenue of $3.00 million during the quarter. As a group, analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Institutional Investors Weigh In On Prelude Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Prelude Therapeutics by 86.0% in the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after purchasing an additional 12,564 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Prelude Therapeutics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after purchasing an additional 29,765 shares in the last quarter. XTX Topco Ltd purchased a new stake in Prelude Therapeutics in the 3rd quarter valued at approximately $100,000. State Street Corp boosted its holdings in Prelude Therapeutics by 35.1% in the 3rd quarter. State Street Corp now owns 286,046 shares of the company’s stock valued at $592,000 after purchasing an additional 74,300 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Prelude Therapeutics by 885.2% in 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 in the last quarter. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.