Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Buys 100,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $0.69 per share, with a total value of $69,000.00. Following the completion of the acquisition, the insider now owns 480,123 shares of the company’s stock, valued at $331,284.87. This trade represents a 26.31 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Prelude Therapeutics Stock Up 6.6 %

Shares of PRLD traded up $0.04 during midday trading on Thursday, reaching $0.68. 286,920 shares of the stock were exchanged, compared to its average volume of 248,758. The company has a market cap of $37.60 million, a price-to-earnings ratio of -0.38 and a beta of 1.43. Prelude Therapeutics Incorporated has a 12-month low of $0.62 and a 12-month high of $6.80. The firm has a 50 day simple moving average of $0.90 and a 200-day simple moving average of $1.35.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in Prelude Therapeutics in the third quarter worth $100,000. State Street Corp lifted its position in shares of Prelude Therapeutics by 35.1% in the third 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 last quarter. Barclays PLC boosted its stake in shares of Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after acquiring an additional 12,564 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Prelude Therapeutics by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after acquiring an additional 29,765 shares during the last quarter. Finally, Walleye Capital LLC raised its stake 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 valued at $172,000 after acquiring an additional 67,946 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

Analyst Ratings Changes

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

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.