Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Acquires 47,500 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi purchased 47,500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $0.71 per share, for a total transaction of $33,725.00. Following the transaction, the chief executive officer now owns 1,214,775 shares of the company’s stock, valued at $862,490.25. This trade represents a 4.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 30th, Krishna Vaddi acquired 10,000 shares of Prelude Therapeutics stock. The shares were purchased at an average price of $1.20 per share, with a total value of $12,000.00.
• On Wednesday, December 18th, Krishna Vaddi acquired 100,000 shares of Prelude Therapeutics stock. The shares were purchased at an average price of $0.93 per share, with a total value of $93,000.00.

Prelude Therapeutics Stock Up 5.4 %

PRLD stock opened at $0.74 on Friday. The business has a 50 day moving average price of $0.97 and a two-hundred day moving average price of $1.60. The company has a market cap of $41.08 million, a price-to-earnings ratio of -0.42 and a beta of 1.43. Prelude Therapeutics Incorporated has a twelve month low of $0.66 and a twelve month high of $6.80.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Boxer Capital Management LLC bought a new position in Prelude Therapeutics in the fourth quarter valued at approximately $2,178,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of 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 period. Renaissance Technologies LLC boosted its stake in shares of 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 period. Massachusetts Financial Services Co. MA boosted its stake in shares of Prelude Therapeutics by 5.2% during the 3rd 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. Finally, Millennium Management LLC boosted its stake in shares of Prelude Therapeutics by 188.2% during the 4th quarter. Millennium Management LLC now owns 462,555 shares of the company’s stock worth $590,000 after acquiring an additional 302,031 shares during the period. 79.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reiterated 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.

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.