Prelude Therapeutics (NASDAQ:PRLD) Director David Bonita Buys 2,815,315 Shares

Key Points

• Director David Bonita bought 2,815,315 shares of Prelude Therapeutics at an average price of $4.44 on April 21, spending about $12.5M and increasing his stake to 11,808,945 shares (a 31.3% increase).
• PRLD traded at $4.40 with roughly 690,352 shares changing hands—well above average—giving the company a market cap of about $277.2M and a 52‑week range of $0.73–$5.54.
• Analysts are mixed: the consensus rating is Hold with a $5.50 target, while institutional ownership is high (~79.7%) and several hedge funds recently added or increased positions.

Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) Director David Bonita purchased 2,815,315 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The shares were bought at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the completion of the acquisition, the director owned 11,808,945 shares of the company's stock, valued at $52,431,715.80. This trade represents a 31.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Prelude Therapeutics Stock Performance

Shares of PRLD traded up $0.09 during trading hours on Thursday, hitting $4.40. 690,352 shares of the company were exchanged, 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. The firm's 50 day moving average is $3.37 and its 200-day moving average is $2.39. Prelude Therapeutics Incorporated has a 52 week low of $0.73 and a 52 week high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.13. The firm had revenue of $5.64 million for the quarter, compared to the consensus estimate of $20.50 million.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Prelude Therapeutics

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.