Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Acquires $82,200.00 in Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs acquired 60,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the acquisition, the insider now owns 377,623 shares of the company’s stock, valued at approximately $517,343.51. This trade represents a 18.89 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Andrew Combs also recently made the following trade(s):

• On Friday, December 20th, Andrew Combs purchased 3,075 shares of Prelude Therapeutics stock. The stock was acquired at an average price of $1.15 per share, with a total value of $3,536.25.

Prelude Therapeutics Stock Performance

NASDAQ:PRLD traded up $0.10 during midday trading on Thursday, reaching $1.29. 98,607 shares of the stock traded hands, compared to its average volume of 210,347. Prelude Therapeutics Incorporated has a 12-month low of $0.80 and a 12-month high of $6.80. The stock has a market capitalization of $71.00 million, a PE ratio of -0.72 and a beta of 1.49. The business has a 50-day moving average of $1.17 and a two-hundred day moving average of $3.11.

Prelude Therapeutics (NASDAQ:PRLD) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. The firm had revenue of $3.00 million for the quarter. Research analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Hedge Funds Weigh In On Prelude Therapeutics

Large investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its stake in shares of Prelude Therapeutics by 885.2% during the third 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 lifted its stake in shares of 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 purchasing an additional 74,300 shares during the period. Walleye Capital LLC grew its stake in shares of Prelude Therapeutics by 446.2% during the 3rd quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock valued at $172,000 after buying an additional 67,946 shares during the period. XTX Topco Ltd purchased a new stake in Prelude Therapeutics during the third quarter worth approximately $100,000. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 29,765 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and set a $4.00 price target (down from $7.00) on shares of Prelude Therapeutics in a research note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a research note on Friday, November 8th.

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.