Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi Buys 675,000 Shares

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi purchased 675,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were purchased at an average price of $0.69 per share, with a total value of $465,750.00. Following the acquisition, the chief executive officer now directly owns 1,999,296 shares in the company, valued at $1,379,514.24. This represents a 50.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Krishna Vaddi also recently made the following trade(s):

• On Wednesday, March 12th, Krishna Vaddi bought 47,500 shares of Prelude Therapeutics stock. The shares were purchased at an average price of $0.71 per share, with a total value of $33,725.00.
• On Monday, December 30th, Krishna Vaddi purchased 10,000 shares of Prelude Therapeutics stock. The stock was acquired at an average price of $1.20 per share, for a total transaction of $12,000.00.

Prelude Therapeutics Price Performance

NASDAQ:PRLD opened at $0.80 on Friday. The firm has a market capitalization of $44.11 million, a price-to-earnings ratio of -0.45 and a beta of 1.43. The business has a 50 day simple moving average of $0.89 and a 200-day simple moving average of $1.29. Prelude Therapeutics Incorporated has a 1 year low of $0.63 and a 1 year high of $6.80.

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

Analyst Upgrades and Downgrades

Separately, 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 note on Wednesday, December 11th.

Institutional Investors Weigh In On Prelude Therapeutics

Several institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its position in Prelude Therapeutics by 5.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company’s stock worth $1,138,000 after purchasing an additional 27,155 shares during the period. Walleye Capital LLC grew its stake in shares of Prelude Therapeutics by 446.2% during the third quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock valued at $172,000 after buying an additional 67,946 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Prelude Therapeutics by 885.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock worth $362,000 after buying an additional 157,218 shares during the period. State Street Corp lifted its stake in shares of 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 last quarter. Finally, XTX Topco Ltd purchased a new position in Prelude Therapeutics during the 3rd quarter valued at $100,000. Institutional investors own 79.72% of the company’s stock.

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.