Boxer Capital Management LLC Takes $2.18 Million Position in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Boxer Capital Management LLC purchased a new position in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,708,187 shares of the company's stock, valued at approximately $2,178,000. Boxer Capital Management LLC owned about 3.10% of Prelude Therapeutics as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in shares of Prelude Therapeutics by 35.1% in the third quarter. State Street Corp now owns 286,046 shares of the company's stock valued at $592,000 after buying an additional 74,300 shares during the last quarter. Barclays PLC grew its stake in Prelude Therapeutics by 86.0% during 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 in the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 29,765 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Prelude Therapeutics by 222.2% in the 4th quarter. Renaissance Technologies LLC now owns 634,500 shares of the company's stock worth $809,000 after purchasing an additional 437,600 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Prelude Therapeutics by 1,289.8% during the 4th quarter. Rhumbline Advisers now owns 166,830 shares of the company's stock worth $213,000 after purchasing an additional 154,826 shares during the last quarter. Institutional investors and hedge funds own 79.72% of the company's stock.

Prelude Therapeutics Price Performance

Shares of Prelude Therapeutics stock traded down $0.00 on Wednesday, reaching $0.79. 28,233 shares of the company were exchanged, compared to its average volume of 267,767. The stock's 50 day moving average price is $0.75 and its 200-day moving average price is $0.99. The company has a market cap of $34.54 million, a P/E ratio of -0.44 and a beta of 1.30. Prelude Therapeutics Incorporated has a 1-year low of $0.61 and a 1-year high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.47) by $0.05. On average, research analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

Insider Activity at Prelude Therapeutics

In related news, CEO Krishna Vaddi purchased 675,000 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The shares were purchased at an average price of $0.69 per share, for a total transaction of $465,750.00. Following the transaction, the chief executive officer now directly owns 1,999,296 shares of the company's stock, valued at approximately $1,379,514.24. The trade was a 50.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Combs acquired 100,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were bought at an average cost of $0.69 per share, with a total value of $69,000.00. Following the completion of the transaction, the insider now directly owns 480,123 shares in the company, valued at $331,284.87. This trade represents a 26.31 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 822,500 shares of company stock valued at $568,475 over the last ninety days. Insiders own 62.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PRLD. HC Wainwright reiterated a "buy" rating and set a $5.00 price objective on shares of Prelude Therapeutics in a research report on Monday. JMP Securities restated a "market outperform" rating and set a $4.00 price objective on shares of Prelude Therapeutics in a research report on Tuesday, April 29th.

Prelude Therapeutics 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.