Prelude Therapeutics Incorporated (NASDAQ:PRLD) Short Interest Down 30.3% in February

Prelude Therapeutics Incorporated (NASDAQ:PRLD) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,160,000 shares, a drop of 30.3% from the February 13th total of 3,100,000 shares. Approximately 7.9% of the shares of the company are sold short. Based on an average trading volume of 392,100 shares, the short-interest ratio is currently 5.5 days.

Wall Street Analyst Weigh In

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 Price Performance

PRLD opened at $0.74 on Friday. The company has a market capitalization of $41.08 million, a P/E ratio of -0.42 and a beta of 1.43. The firm’s fifty day moving average price is $0.97 and its two-hundred day moving average price is $1.60. Prelude Therapeutics has a fifty-two week low of $0.66 and a fifty-two week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.11. The firm had revenue of $4.00 million for the quarter. On average, equities research analysts expect that Prelude Therapeutics will post -1.81 EPS for the current fiscal year.

Insider Transactions at Prelude Therapeutics

In related news, insider Andrew Combs purchased 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the purchase, the insider now owns 377,623 shares in the company, valued at approximately $517,343.51. This represents a 18.89 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Krishna Vaddi purchased 47,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $0.71 per share, with a total value of $33,725.00. Following the purchase, the chief executive officer now owns 1,214,775 shares of the company’s stock, valued at approximately $862,490.25. The trade was a 4.07 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 245,575 shares of company stock worth $247,211. Company insiders own 62.80% of the company’s stock.

Institutional Investors Weigh In On Prelude Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its holdings 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 buying an additional 12,564 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Prelude Therapeutics in the fourth quarter valued at about $26,000. Massachusetts Financial Services Co. MA raised its position in Prelude Therapeutics by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company’s stock valued at $1,138,000 after purchasing an additional 27,155 shares during the last quarter. Geode Capital Management LLC raised its position in Prelude Therapeutics by 8.2% in the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company’s stock valued at $811,000 after purchasing an additional 29,765 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Prelude Therapeutics by 9.2% in the fourth quarter. Marshall Wace LLP now owns 392,155 shares of the company’s stock valued at $498,000 after purchasing an additional 33,018 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.

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.