Insider Buying: Prelude Therapeutics (NASDAQ:PRLD) Director Acquires 2,815,315 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) Director Orbimed Advisors Llc bought 2,815,315 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, April 21st. The shares were acquired at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the acquisition, the director owned 11,808,945 shares of the company’s stock, valued at $52,431,715.80. The trade was a 31.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Prelude Therapeutics Stock Performance

Shares of Prelude Therapeutics stock traded up $0.09 during trading on Thursday, hitting $4.40. 690,352 shares of the company’s stock were exchanged, compared to its average volume of 370,272. The business has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $2.39. Prelude Therapeutics Incorporated has a 52-week low of $0.73 and a 52-week high of $5.54. The stock has a market capitalization of $277.21 million, a price-to-earnings ratio of -3.41 and a beta of 0.73.

Prelude Therapeutics (NASDAQ:PRLD) last issued its earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.13. The business had revenue of $5.64 million for the quarter, compared to analysts’ expectations of $20.50 million.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRLD shares. Citizens Jmp lifted their price target on Prelude Therapeutics from $3.00 to $6.00 and gave the company a “market outperform” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered Prelude Therapeutics from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd raised its position in shares of Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock worth $34,000 after purchasing an additional 17,873 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Prelude Therapeutics by 170.7% during the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock valued at $26,000 after acquiring an additional 21,330 shares during the last quarter. Shay Capital LLC lifted its position in shares of Prelude Therapeutics by 33.3% in the third quarter. Shay Capital LLC now owns 100,000 shares of the company’s stock valued at $144,000 after acquiring an additional 25,000 shares in the last quarter. State Street Corp lifted its position in shares of Prelude Therapeutics by 30.4% in the fourth quarter. State Street Corp now owns 127,292 shares of the company’s stock valued at $369,000 after acquiring an additional 29,700 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Prelude Therapeutics by 48.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 117,477 shares of the company’s stock worth $341,000 after acquiring an additional 38,150 shares during the last quarter. Institutional investors and hedge funds own 79.72% of the company’s stock.

Prelude Therapeutics Company Profile

Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude’s pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.

Among Prelude’s lead programs is PRT2527, a selective PI3K‐alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.