Prelude Therapeutics (NASDAQ:PRLD) Stock Price Down 5.7% – What’s Next?

Prelude Therapeutics Incorporated (NASDAQ:PRLD) traded down 5.7% on Thursday . The company traded as low as $0.71 and last traded at $0.71. 73,440 shares changed hands during trading, a decline of 69% from the average session volume of 240,425 shares. The stock had previously closed at $0.76.

Analysts Set New Price Targets

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

Prelude Therapeutics Stock Up 3.4 %

The stock has a market cap of $40.51 million, a PE ratio of -0.41 and a beta of 1.43. The company has a fifty day moving average price of $1.04 and a 200 day moving average price of $1.83.

Insider Activity at Prelude Therapeutics

In other Prelude Therapeutics news, insider Andrew Combs purchased 60,000 shares of Prelude Therapeutics stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the acquisition, the insider now directly owns 377,623 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available at this link. Also, CEO Krishna Vaddi acquired 100,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $0.93 per share, for a total transaction of $93,000.00. Following the completion of the transaction, the chief executive officer now owns 1,167,275 shares in the company, valued at approximately $1,085,565.75. This represents a 9.37 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 198,075 shares of company stock worth $213,486 in the last 90 days. Company insiders own 62.80% of the company’s stock.

Institutional Trading of Prelude Therapeutics

Several large investors have recently bought and sold shares of the company. Two Sigma Investments LP boosted its position in Prelude Therapeutics by 307.2% during the 4th quarter. Two Sigma Investments LP now owns 231,839 shares of the company’s stock valued at $296,000 after acquiring an additional 174,906 shares in the last quarter. Two Sigma Advisers LP boosted its position in Prelude Therapeutics by 526.3% during the 4th quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock valued at $382,000 after acquiring an additional 252,100 shares in the last quarter. Millennium Management LLC boosted its position in Prelude Therapeutics by 188.2% during the 4th 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted 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 valued at $850,000 after acquiring an additional 491,595 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Prelude Therapeutics by 747.6% during the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock valued at $159,000 after acquiring an additional 109,281 shares in the last quarter. 79.72% of the stock is owned by 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.