Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Buys $69,000.00 in Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs purchased 100,000 shares of Prelude Therapeutics stock in a transaction dated 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 completion of the transaction, the insider now directly owns 480,123 shares of the company’s stock, valued at $331,284.87. This represents a 26.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $0.68 on Friday. The firm has a market cap of $37.60 million, a PE ratio of -0.38 and a beta of 1.43. The firm’s 50 day moving average price is $0.90 and its 200 day moving average price is $1.35. Prelude Therapeutics Incorporated has a twelve month low of $0.63 and a twelve month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.11. The business had revenue of $4.00 million during the quarter. On average, sell-side analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued 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.

Institutional Investors Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boxer Capital Management LLC bought a new position in shares of Prelude Therapeutics in the fourth quarter valued at approximately $2,178,000. Jacobs Levy Equity Management Inc. lifted its position in Prelude Therapeutics by 280.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 666,574 shares of the company’s stock worth $850,000 after acquiring an additional 491,595 shares during the last quarter. Renaissance Technologies LLC lifted its position in Prelude Therapeutics by 222.2% during the 4th quarter. Renaissance Technologies LLC now owns 634,500 shares of the company’s stock worth $809,000 after acquiring an additional 437,600 shares during the last quarter. Millennium Management LLC boosted its holdings in Prelude Therapeutics by 188.2% during the fourth quarter. Millennium Management LLC now owns 462,555 shares of the company’s stock valued at $590,000 after acquiring an additional 302,031 shares during the period. Finally, Two Sigma Advisers LP grew its position in shares of Prelude Therapeutics by 526.3% in the fourth quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock valued at $382,000 after purchasing an additional 252,100 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.