Andrew Combs Buys 60,000 Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs purchased 60,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $1.37 per share, with a total value of $82,200.00. Following the completion of the acquisition, the insider now directly owns 377,623 shares in the company, valued at approximately $517,343.51. The trade was a 18.89 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Andrew Combs also recently made the following trade(s):

• On Friday, December 20th, Andrew Combs bought 3,075 shares of Prelude Therapeutics stock. The shares were acquired at an average price of $1.15 per share, with a total value of $3,536.25.

Prelude Therapeutics Stock Performance

PRLD stock opened at $1.34 on Friday. Prelude Therapeutics Incorporated has a 1 year low of $0.80 and a 1 year high of $6.80. The stock has a market capitalization of $73.75 million, a price-to-earnings ratio of -0.75 and a beta of 1.49. The stock’s fifty day moving average is $1.15 and its two-hundred day moving average is $3.08.

Prelude Therapeutics (NASDAQ:PRLD) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.05. The firm had revenue of $3.00 million during the quarter. As a group, analysts predict that Prelude Therapeutics Incorporated will post -1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $4.00 price target (down from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research note on Friday, November 8th.

Hedge Funds Weigh In On Prelude Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its position in Prelude Therapeutics by 86.0% in the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after acquiring an additional 12,564 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Prelude Therapeutics by 2.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 522,375 shares of the company’s stock valued at $1,990,000 after purchasing an additional 14,226 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Prelude Therapeutics by 103.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock valued at $111,000 after purchasing an additional 14,769 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Prelude Therapeutics by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock worth $133,000 after purchasing an additional 15,682 shares during the period. Finally, Geode Capital Management LLC grew its position in Prelude Therapeutics by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after buying an additional 29,765 shares in the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

About Prelude Therapeutics

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.