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

Prelude Therapeutics Incorporated (NASDAQ:PRLD) Director David Bonita acquired 2,815,315 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was bought 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 in the company, valued at $52,431,715.80. The trade was a 31.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Prelude Therapeutics Price Performance

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

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

Hedge Funds Weigh In On Prelude Therapeutics

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in shares of Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after purchasing an additional 21,330 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $34,000. XTX Topco Ltd increased its stake in Prelude Therapeutics by 72.4% in the second quarter. XTX Topco Ltd now owns 42,573 shares of the company’s stock valued at $34,000 after acquiring an additional 17,873 shares during the last quarter. Shay Capital LLC bought a new position in Prelude Therapeutics in the second quarter valued at approximately $61,000. Finally, Jane Street Group LLC acquired a new position in Prelude Therapeutics during the second quarter valued at approximately $74,000. 79.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRLD has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prelude Therapeutics in a research report on Thursday, January 22nd. Citizens Jmp increased 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. Finally, Wall Street Zen downgraded 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

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.