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

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) CEO Krishna Vaddi acquired 100,000 shares of the stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 1,167,275 shares in the company, valued at $1,085,565.75. The trade was a 9.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock traded up $0.41 during trading on Friday, hitting $1.30. The company's stock had a trading volume of 4,433,679 shares, compared to its average volume of 205,806. The stock has a market cap of $71.55 million, a price-to-earnings ratio of -0.73 and a beta of 1.49. Prelude Therapeutics Incorporated has a 52 week low of $0.80 and a 52 week high of $6.80. The stock has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $3.17.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.05. The business had revenue of $3.00 million during the quarter. On average, equities analysts predict that Prelude Therapeutics Incorporated will post -1.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on PRLD shares. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of Prelude Therapeutics in a report on Friday, November 8th. JMP Securities reissued a "market outperform" rating and set a $4.00 price target (down from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th.

Institutional Trading of Prelude Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Prelude Therapeutics by 86.0% in the third quarter. Barclays PLC now owns 27,165 shares of the company's stock valued at $57,000 after purchasing an additional 12,564 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Prelude Therapeutics by 8.2% during 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 during the last quarter. XTX Topco Ltd bought a new stake in Prelude Therapeutics during the third quarter worth $100,000. State Street Corp boosted its position in 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 purchasing an additional 74,300 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Prelude Therapeutics by 885.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company's stock worth $362,000 after purchasing an additional 157,218 shares during the last quarter. 79.72% of the stock is owned by institutional investors.

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.