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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) Director David Bonita acquired 2,815,315 shares of the stock in a transaction dated Tuesday, April 21st. The shares were purchased at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the purchase, the director owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. The trade was a 31.30% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Prelude Therapeutics Trading Up 2.1%

Shares of NASDAQ:PRLD opened at $4.40 on Friday. The company has a market cap of $277.20 million, a price-to-earnings ratio of -3.41 and a beta of 0.73. The company has a 50-day moving average price of $3.41 and a 200-day moving average price of $2.41. Prelude Therapeutics Incorporated has a 12 month low of $0.73 and a 12 month high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.13. The firm had revenue of $5.64 million for the quarter, compared to the consensus estimate of $20.50 million.

Hedge Funds Weigh In On Prelude Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in PRLD. AQR Capital Management LLC increased its stake 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 purchasing an additional 21,330 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Prelude Therapeutics by 9.1% during the first quarter. Acadian Asset Management LLC now owns 529,327 shares of the company’s stock valued at $405,000 after buying an additional 43,946 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Prelude Therapeutics by 72.4% during the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after buying an additional 17,873 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Prelude Therapeutics during the second quarter valued at approximately $34,000. Finally, Jane Street Group LLC purchased a new stake in shares of Prelude Therapeutics during the second quarter valued at approximately $74,000. Institutional investors own 79.72% of the company’s stock.

Wall Street Analysts Forecast Growth

PRLD has been the subject of several recent analyst reports. Citizens Jmp upped their price objective on shares of 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 reissued a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Prelude Therapeutics currently has a consensus rating of “Hold” and an average price target of $5.50.

About Prelude Therapeutics

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.