Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Acquires 675,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi bought 675,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The shares were bought at an average price of $0.69 per share, with a total value of $465,750.00. Following the completion of the purchase, the chief executive officer now owns 1,999,296 shares in the company, valued at approximately $1,379,514.24. The trade was a 50.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

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

Prelude Therapeutics Stock Performance

NASDAQ:PRLD opened at $0.68 on Friday. The stock has a 50-day simple moving average of $0.90 and a two-hundred day simple moving average of $1.35. The firm has a market capitalization of $37.60 million, a PE ratio of -0.38 and a beta of 1.43. Prelude Therapeutics Incorporated has a 52-week low of $0.63 and a 52-week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.11. The company had revenue of $4.00 million for the quarter. Equities analysts forecast that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JMP Securities reissued a “market outperform” rating and issued a $4.00 price objective (down previously from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PRLD. XTX Topco Ltd bought a new stake in Prelude Therapeutics during the third quarter valued at about $100,000. 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 valued at $592,000 after purchasing an additional 74,300 shares during the period. Barclays PLC lifted its holdings in Prelude Therapeutics by 86.0% in the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after purchasing an additional 12,564 shares in the last quarter. Geode Capital Management LLC boosted its stake in Prelude Therapeutics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock worth $811,000 after purchasing an additional 29,765 shares during the period. Finally, Walleye Capital LLC grew its holdings in Prelude Therapeutics by 446.2% during the 3rd 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 in the last quarter. Hedge funds and other 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.