Krishna Vaddi Purchases 100,000 Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of $0.93 per share, with a total value of $93,000.00. Following the purchase, the chief executive officer now owns 1,167,275 shares in the company, valued at approximately $1,085,565.75. The trade was a 9.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prelude Therapeutics Stock Performance

PRLD traded up $0.32 on Friday, reaching $1.21. 2,843,192 shares of the company’s stock were exchanged, compared to its average volume of 198,793. The company has a market cap of $66.32 million, a price-to-earnings ratio of -0.68 and a beta of 1.49. Prelude Therapeutics Incorporated has a twelve month low of $0.80 and a twelve month high of $6.80. The company’s 50 day moving average is $1.22 and its 200-day moving average is $3.19.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.05. The business had revenue of $3.00 million during the quarter. Sell-side analysts forecast that Prelude Therapeutics Incorporated will post -1.81 EPS for the current year.

Analyst Ratings Changes

PRLD has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Prelude Therapeutics in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $4.00 price objective (down from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRLD. Barclays PLC grew its stake 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 buying an additional 12,564 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Prelude Therapeutics by 103.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after acquiring an additional 14,769 shares during the period. XTX Topco Ltd acquired a new stake in Prelude Therapeutics in the third quarter valued at approximately $100,000. Exchange Traded Concepts LLC raised its stake in shares of Prelude Therapeutics by 32.2% during the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after purchasing an additional 15,682 shares during the period. Finally, Walleye Capital LLC lifted its position 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 in the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.

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.