Prelude Therapeutics Incorporated (NASDAQ:PRLD) Insider Andrew Combs Purchases 100,000 Shares

Prelude Therapeutics Incorporated (NASDAQ:PRLD) insider Andrew Combs bought 100,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was purchased at an average price of $0.69 per share, for a total transaction of $69,000.00. Following the completion of the purchase, the insider now directly owns 480,123 shares in the company, valued at $331,284.87. The trade was a 26.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Prelude Therapeutics Stock Performance

Shares of PRLD traded up $0.04 during mid-day trading on Thursday, hitting $0.68. The company’s stock had a trading volume of 286,920 shares, compared to its average volume of 248,758. The stock’s 50-day moving average is $0.90 and its two-hundred day moving average is $1.35. The firm has a market capitalization of $37.60 million, a PE ratio of -0.38 and a beta of 1.43. Prelude Therapeutics Incorporated has a one year low of $0.62 and a one year high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Monday, March 10th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.11. The company had revenue of $4.00 million for the quarter. Analysts expect that Prelude Therapeutics Incorporated will post -1.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in Prelude Therapeutics during the fourth quarter valued at about $26,000. Barclays PLC grew its holdings in shares of Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after purchasing an additional 12,564 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Prelude Therapeutics by 925.0% during the fourth quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock valued at $78,000 after purchasing an additional 55,183 shares during the period. XTX Topco Ltd acquired a new position in shares of Prelude Therapeutics in the third quarter valued at $100,000. Finally, Deutsche Bank AG lifted its position in Prelude Therapeutics by 747.6% in the fourth quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock worth $159,000 after purchasing an additional 109,281 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, 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 research report on Wednesday, December 11th.

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.