Insider Buying: Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Acquires 10,000 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi purchased 10,000 shares of Prelude Therapeutics stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $1.20 per share, for a total transaction of $12,000.00. Following the transaction, the chief executive officer now directly owns 137,553 shares in the company, valued at $165,063.60. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

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

Prelude Therapeutics Stock Performance

NASDAQ PRLD opened at $1.25 on Friday. Prelude Therapeutics Incorporated has a fifty-two week low of $0.80 and a fifty-two week high of $6.80. The stock has a market cap of $68.79 million, a PE ratio of -0.70 and a beta of 1.49. The firm’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $3.02.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.05. The firm had revenue of $3.00 million during the quarter. As a group, sell-side analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRLD. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Prelude Therapeutics in a research note on Friday, November 8th. 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.

Institutional Trading of Prelude Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PRLD. Jacobs Levy Equity Management Inc. boosted its position in Prelude Therapeutics by 885.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock worth $362,000 after buying an additional 157,218 shares during the period. State Street Corp raised its stake in shares of Prelude Therapeutics by 35.1% during the third quarter. State Street Corp now owns 286,046 shares of the company’s stock valued at $592,000 after acquiring an additional 74,300 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Prelude Therapeutics by 446.2% during the third quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock worth $172,000 after purchasing an additional 67,946 shares during the period. XTX Topco Ltd bought a new stake in shares of Prelude Therapeutics in the third quarter worth $100,000. Finally, Geode Capital Management LLC increased its holdings in Prelude Therapeutics by 8.2% in the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after purchasing an additional 29,765 shares during the period. 79.72% of the stock is currently owned by institutional investors.

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.