Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) CFO Acquires 25,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CFO Bryant David Lim purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $0.91 per share, for a total transaction of $22,750.00. Following the acquisition, the chief financial officer now directly owns 27,400 shares of the company’s stock, valued at $24,934. This trade represents a 1,041.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Prelude Therapeutics Stock Up 46.4 %

Shares of NASDAQ:PRLD opened at $1.30 on Monday. The company has a market capitalization of $71.55 million, a price-to-earnings ratio of -0.73 and a beta of 1.49. The company has a 50 day moving average of $1.21 and a two-hundred day moving average of $3.17. Prelude Therapeutics Incorporated has a 52-week low of $0.80 and a 52-week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings results 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 firm had revenue of $3.00 million for the quarter. On average, equities analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Prelude Therapeutics

Several large investors have recently modified their holdings of the business. Barclays PLC lifted its stake 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 acquiring an additional 12,564 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Prelude Therapeutics by 2.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after purchasing an additional 14,226 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Prelude Therapeutics by 103.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock valued at $111,000 after purchasing an additional 14,769 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Prelude Therapeutics by 32.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after buying an additional 15,682 shares during the last quarter. Finally, Geode Capital Management LLC grew its position 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 worth $811,000 after buying an additional 29,765 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.