Prelude Therapeutics (NASDAQ:PRLD) Director Buys $12,499,998.60 in Stock

Key Points

• Orbimed Advisors LLC bought 2,815,315 shares of Prelude Therapeutics on April 21 at an average price of $4.44, a $12,499,998.60 purchase that raised its stake to 11,808,945 shares (a 31.3% increase) valued at about $52.4M.
• PRLD traded around $4.40 with volume (~690K) well above its average (~370K), giving the company a market cap of about $277M and a 52-week range of $0.73–$5.54; its 50-day and 200-day SMAs are $3.37 and $2.39, respectively.
• Analysts are mixed with a consensus Hold and $5.50 price target; the company recently beat EPS estimates (‑$0.20 vs. ‑$0.33) but missed revenue expectations ($5.64M vs. $20.50M), and institutional ownership is high (~79.7%).

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) Director Orbimed Advisors Llc purchased 2,815,315 shares of the stock in a transaction dated Tuesday, April 21st. The stock was acquired at an average cost of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director directly owned 11,808,945 shares in the company, valued at approximately $52,431,715.80. This trade represents a 31.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Prelude Therapeutics Price Performance

NASDAQ PRLD traded up $0.09 during midday trading on Thursday, hitting $4.40. 690,352 shares of the company traded hands, compared to its average volume of 370,272. The company has a market cap of $277.21 million, a PE ratio of -3.41 and a beta of 0.73. Prelude Therapeutics Incorporated has a 52 week low of $0.73 and a 52 week high of $5.54. The company's 50-day simple moving average is $3.37 and its 200-day simple moving average is $2.39.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.13. The firm had revenue of $5.64 million for the quarter, compared to analysts' expectations of $20.50 million.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRLD. XTX Topco Ltd raised its stake in shares of Prelude Therapeutics by 222.0% in the fourth quarter. XTX Topco Ltd now owns 50,159 shares of the company's stock worth $145,000 after purchasing an additional 34,581 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in Prelude Therapeutics in the fourth quarter valued at approximately $356,000. OMERS ADMINISTRATION Corp acquired a new position in Prelude Therapeutics in the 4th quarter worth approximately $212,000. Marshall Wace LLP purchased a new position in Prelude Therapeutics during the 4th quarter worth approximately $794,000. Finally, State Street Corp raised its position in Prelude Therapeutics by 30.4% during the 4th quarter. State Street Corp now owns 127,292 shares of the company's stock worth $369,000 after buying an additional 29,700 shares during the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen downgraded Prelude Therapeutics from a "buy" rating to a "hold" rating in a research note on Sunday, January 18th. Citizens Jmp upped their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the company a "market outperform" rating in a report on Wednesday, March 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Prelude Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $5.50.

About Prelude Therapeutics

Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude's pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.

Among Prelude's lead programs is PRT2527, a selective PI3K‐alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.

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