Prelude Therapeutics Incorporated (NASDAQ:PRLD) Shares Acquired by Millennium Management LLC

Millennium Management LLC boosted its holdings in Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) by 188.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 462,555 shares of the company's stock after acquiring an additional 302,031 shares during the period. Millennium Management LLC owned about 0.84% of Prelude Therapeutics worth $590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in Prelude Therapeutics during the 4th quarter valued at $26,000. JPMorgan Chase & Co. grew its position in shares of Prelude Therapeutics by 925.0% in 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 last quarter. Deutsche Bank AG lifted its position in shares of Prelude Therapeutics by 747.6% in the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company's stock worth $159,000 after acquiring an additional 109,281 shares during the period. Rhumbline Advisers increased its stake in Prelude Therapeutics by 1,289.8% in the fourth quarter. Rhumbline Advisers now owns 166,830 shares of the company's stock valued at $213,000 after acquiring an additional 154,826 shares during the period. Finally, Marshall Wace LLP grew 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 acquiring an additional 33,018 shares during the period. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JMP Securities restated a "market outperform" rating and issued a $4.00 price objective on shares of Prelude Therapeutics in a research report on Tuesday, April 29th. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of Prelude Therapeutics in a report on Monday, May 5th.

Insider Transactions at Prelude Therapeutics

In other Prelude Therapeutics news, insider Andrew Combs bought 100,000 shares of Prelude Therapeutics stock in a transaction that occurred on Tuesday, March 25th. The shares were bought at an average price of $0.69 per share, with a total value of $69,000.00. Following the acquisition, the insider now owns 480,123 shares in the company, valued at approximately $331,284.87. This trade represents a 26.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Krishna Vaddi purchased 675,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was purchased at an average cost of $0.69 per share, for a total transaction of $465,750.00. Following the acquisition, the chief executive officer now owns 1,999,296 shares in the company, valued at approximately $1,379,514.24. The trade was a 50.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 822,500 shares of company stock valued at $568,475 over the last three months. Corporate insiders own 63.90% of the company's stock.

Prelude Therapeutics Trading Up 5.3%

Shares of PRLD opened at $1.03 on Friday. The stock has a market capitalization of $58.15 million, a PE ratio of -0.58 and a beta of 1.25. The firm's 50 day moving average is $0.84 and its 200-day moving average is $0.93. Prelude Therapeutics Incorporated has a 12 month low of $0.61 and a 12 month high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its 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. Equities research analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current fiscal year.

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.

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