Prelude Therapeutics (NASDAQ:PRLD) Stock Price Down 5.7% – What’s Next?

Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) traded down 5.7% during mid-day trading on Thursday . The stock traded as low as $0.71 and last traded at $0.71. 73,440 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 240,425 shares. The stock had previously closed at $0.76.

Analyst Ratings Changes

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

Prelude Therapeutics Trading Up 3.4 %

The firm has a market capitalization of $40.51 million, a PE ratio of -0.41 and a beta of 1.43. The business’s 50 day simple moving average is $1.04 and its two-hundred day simple moving average is $1.83.

Insider Buying and Selling at Prelude Therapeutics

In related news, CEO Krishna Vaddi acquired 100,000 shares of Prelude Therapeutics stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $0.93 per share, for a total transaction of $93,000.00. Following the purchase, the chief executive officer now directly owns 1,167,275 shares of the company’s stock, valued at approximately $1,085,565.75. This trade represents a 9.37 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Combs acquired 60,000 shares of Prelude Therapeutics stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $1.37 per share, with a total value of $82,200.00. Following the completion of the purchase, the insider now directly owns 377,623 shares in the company, valued at $517,343.51. This represents a 18.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 198,075 shares of company stock worth $213,486. Insiders own 62.80% of the company’s stock.

Institutional Investors Weigh In On Prelude Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of Prelude Therapeutics in the 3rd quarter worth $100,000. State Street Corp increased its stake in Prelude Therapeutics by 35.1% in the 3rd quarter. State Street Corp now owns 286,046 shares of the company’s stock worth $592,000 after buying an additional 74,300 shares in the last quarter. Barclays PLC raised its holdings in Prelude Therapeutics by 86.0% during the third 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. Geode Capital Management LLC raised its holdings in Prelude Therapeutics by 8.2% during the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after acquiring an additional 29,765 shares during the period. Finally, Walleye Capital LLC raised its holdings 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 acquiring an additional 67,946 shares during the period. 79.72% of the stock is currently owned by hedge funds and other institutional investors.

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.