Krishna Vaddi Acquires 675,000 Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi acquired 675,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was bought at an average cost of $0.69 per share, for a total transaction of $465,750.00. Following the transaction, the chief executive officer now owns 1,999,296 shares of the company’s stock, valued at approximately $1,379,514.24. This trade represents a 50.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Prelude Therapeutics Stock Up 17.3 %

Shares of NASDAQ:PRLD opened at $0.80 on Friday. The company has a 50-day moving average price of $0.89 and a two-hundred day moving average price of $1.32. Prelude Therapeutics Incorporated has a twelve month low of $0.63 and a twelve month high of $6.80. The firm has a market capitalization of $44.11 million, a PE ratio of -0.45 and a beta of 1.43.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings data on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.11. The business had revenue of $4.00 million during the quarter. Analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its position in shares of 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 during the last quarter. Two Sigma Advisers LP raised its position in shares of 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 buying an additional 252,100 shares in the last quarter. Millennium Management LLC lifted its holdings 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 last quarter. Jacobs Levy Equity Management Inc. grew its position in Prelude Therapeutics by 280.9% in the fourth 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 in the last quarter. Finally, Deutsche Bank AG increased its stake in Prelude Therapeutics by 747.6% in the fourth 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 during the last quarter. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reissued a “market outperform” rating and issued a $4.00 target price (down from $7.00) on shares of Prelude Therapeutics in a research 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.