Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Buys 60,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs bought 60,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the transaction, the insider now directly owns 377,623 shares of the company’s stock, valued at $517,343.51. This trade represents a 18.89 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Andrew Combs also recently made the following trade(s):

• On Friday, December 20th, Andrew Combs bought 3,075 shares of Prelude Therapeutics stock. The stock was acquired at an average price of $1.15 per share, with a total value of $3,536.25.

Prelude Therapeutics Trading Up 8.4 %

Prelude Therapeutics stock traded up $0.10 during midday trading on Thursday, reaching $1.29. The company’s stock had a trading volume of 98,607 shares, compared to its average volume of 210,347. The stock has a market cap of $71.00 million, a PE ratio of -0.72 and a beta of 1.49. Prelude Therapeutics Incorporated has a 52 week low of $0.80 and a 52 week high of $6.80. The business has a 50-day moving average price of $1.17 and a 200-day moving average price of $3.11.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its stake in Prelude Therapeutics by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company’s stock worth $1,138,000 after acquiring an additional 27,155 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 29,765 shares during the period. State Street Corp raised its stake in Prelude Therapeutics by 35.1% during the 3rd quarter. State Street Corp now owns 286,046 shares of the company’s stock worth $592,000 after acquiring an additional 74,300 shares during the period. Jacobs Levy Equity Management Inc. grew 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 buying an additional 157,218 shares in the last quarter. Finally, Walleye Capital LLC grew its holdings in shares of Prelude Therapeutics by 446.2% in the third quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock valued at $172,000 after purchasing an additional 67,946 shares in the last quarter. 79.72% of the stock is currently 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.