Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stake Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its stake in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 280.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 666,574 shares of the company’s stock after buying an additional 491,595 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Prelude Therapeutics were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRLD. Boxer Capital Management LLC bought a new position in Prelude Therapeutics during the 4th quarter worth $2,178,000. Renaissance Technologies LLC grew its stake in Prelude Therapeutics by 222.2% during the 4th quarter. Renaissance Technologies LLC now owns 634,500 shares of the company’s stock worth $809,000 after buying an additional 437,600 shares during the last quarter. Rhumbline Advisers grew its stake in Prelude Therapeutics by 1,289.8% during the 4th quarter. Rhumbline Advisers now owns 166,830 shares of the company’s stock worth $213,000 after buying an additional 154,826 shares during the last quarter. Deutsche Bank AG grew its stake in Prelude Therapeutics by 747.6% during the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock worth $159,000 after buying an additional 109,281 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Prelude Therapeutics by 925.0% during the 4th quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock worth $78,000 after buying an additional 55,183 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors.

Prelude Therapeutics Stock Performance

NASDAQ:PRLD opened at $0.88 on Friday. Prelude Therapeutics Incorporated has a 1 year low of $0.61 and a 1 year high of $6.80. The stock has a market cap of $38.52 million, a price-to-earnings ratio of -0.50 and a beta of 1.30. The business has a fifty day moving average of $0.78 and a 200-day moving average of $0.95.

Prelude Therapeutics (NASDAQ:PRLD) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.05. On average, equities research analysts predict that Prelude Therapeutics Incorporated will post -1.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Prelude Therapeutics in a research note on Monday, May 5th. JMP Securities reissued a “market outperform” rating and issued a $4.00 price target on shares of Prelude Therapeutics in a research note on Tuesday, April 29th.

Insider Activity

In other news, insider Andrew Combs acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $0.69 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the insider now directly owns 480,123 shares in the company, valued at $331,284.87. This represents a 26.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Krishna Vaddi acquired 47,500 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $0.71 per share, with a total value of $33,725.00. Following the acquisition, the chief executive officer now owns 1,214,775 shares of the company’s stock, valued at approximately $862,490.25. This trade represents a 4.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 822,500 shares of company stock worth $568,475 over the last 90 days. 63.90% of the stock is currently owned by company insiders.

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.