Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Down 30.3% in February

Prelude Therapeutics Incorporated (NASDAQ:PRLD) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 2,160,000 shares, a decrease of 30.3% from the February 13th total of 3,100,000 shares. Based on an average daily trading volume, of 392,100 shares, the days-to-cover ratio is presently 5.5 days. Currently, 7.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated 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.

Prelude Therapeutics Price Performance

Shares of NASDAQ PRLD opened at $0.74 on Friday. The company has a market cap of $41.08 million, a P/E ratio of -0.42 and a beta of 1.43. The firm has a 50-day simple moving average of $0.97 and a two-hundred day simple moving average of $1.60. Prelude Therapeutics has a 1 year low of $0.66 and a 1 year high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its earnings results on Monday, March 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.11. The firm had revenue of $4.00 million during the quarter. As a group, equities research analysts expect that Prelude Therapeutics will post -1.81 EPS for the current year.

Insider Activity at Prelude Therapeutics

In other news, CEO Krishna Vaddi bought 100,000 shares of Prelude Therapeutics stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $0.93 per share, for a total transaction of $93,000.00. Following the acquisition, the chief executive officer now owns 1,167,275 shares of the company’s stock, valued at approximately $1,085,565.75. The trade was a 9.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Combs purchased 60,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average cost of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the transaction, the insider now owns 377,623 shares in the company, valued at approximately $517,343.51. This represents a 18.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 245,575 shares of company stock worth $247,211 in the last three months. 62.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its stake in shares of Prelude Therapeutics by 5.2% during the third 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 in the last quarter. Walleye Capital LLC lifted its holdings in shares of Prelude Therapeutics by 446.2% in the 3rd quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock worth $172,000 after acquiring an additional 67,946 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Prelude Therapeutics by 885.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock worth $362,000 after acquiring an additional 157,218 shares during the last quarter. State Street Corp increased 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 worth $592,000 after buying an additional 74,300 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Prelude Therapeutics during the 3rd quarter worth approximately $100,000. 79.72% of the stock is currently owned by institutional investors and hedge funds.

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.