Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi Acquires 675,000 Shares

Prelude Therapeutics Incorporated (NASDAQ:PRLD) CEO Krishna Vaddi bought 675,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was acquired at an average price of $0.69 per share, for a total transaction of $465,750.00. Following the completion of the transaction, the chief executive officer now owns 1,999,296 shares in the company, valued at $1,379,514.24. This trade represents a 50.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Krishna Vaddi also recently made the following trade(s):

• On Wednesday, March 12th, Krishna Vaddi purchased 47,500 shares of Prelude Therapeutics stock. The shares were acquired at an average price of $0.71 per share, with a total value of $33,725.00.
• On Monday, December 30th, Krishna Vaddi purchased 10,000 shares of Prelude Therapeutics stock. The shares were acquired at an average cost of $1.20 per share, for a total transaction of $12,000.00.

Prelude Therapeutics Stock Performance

Shares of PRLD stock traded up $0.04 during mid-day trading on Thursday, hitting $0.68. 286,920 shares of the stock traded hands, compared to its average volume of 248,758. The firm has a market cap of $37.60 million, a price-to-earnings ratio of -0.38 and a beta of 1.43. The company’s 50-day simple moving average is $0.90 and its 200-day simple moving average is $1.35. Prelude Therapeutics Incorporated has a twelve month low of $0.62 and a twelve month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.11. The business had revenue of $4.00 million during the quarter. Analysts forecast that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Institutional Trading of Prelude Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in PRLD. BNP Paribas Financial Markets acquired a new position in Prelude Therapeutics in the fourth quarter worth approximately $26,000. Barclays PLC increased its position in shares of Prelude Therapeutics by 86.0% in the third quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after acquiring an additional 12,564 shares in the last quarter. XTX Topco Ltd acquired a new stake in Prelude Therapeutics during the 3rd quarter worth about $100,000. JPMorgan Chase & Co. increased its stake in shares of Prelude Therapeutics by 925.0% in the fourth quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock worth $78,000 after acquiring an additional 55,183 shares during the last quarter. Finally, Walleye Capital LLC boosted its position in Prelude Therapeutics by 446.2% during the third quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock valued at $172,000 after purchasing an additional 67,946 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price (down previously from $7.00) on shares of Prelude Therapeutics in a research report on Wednesday, December 11th.

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.