Renaissance Technologies LLC Purchases 437,600 Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Renaissance Technologies LLC boosted its holdings in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD - Free Report) by 222.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 634,500 shares of the company's stock after acquiring an additional 437,600 shares during the period. Renaissance Technologies LLC owned 1.15% of Prelude Therapeutics worth $809,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Prelude Therapeutics by 1,289.8% during the fourth quarter. Rhumbline Advisers now owns 166,830 shares of the company's stock worth $213,000 after acquiring an additional 154,826 shares during the last quarter. State Street Corp raised its stake in shares of Prelude Therapeutics by 35.1% during the third quarter. State Street Corp now owns 286,046 shares of the company's stock valued at $592,000 after acquiring an additional 74,300 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Prelude Therapeutics by 925.0% during the 4th quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company's stock worth $78,000 after buying an additional 55,183 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Prelude Therapeutics by 8.2% during the third quarter. Geode Capital Management LLC now owns 391,716 shares of the company's stock valued at $811,000 after purchasing an additional 29,765 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Prelude Therapeutics by 86.0% in 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 during the period. Hedge funds and other institutional investors own 79.72% of the company's stock.

Analyst Ratings Changes

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

Prelude Therapeutics Stock Performance

NASDAQ PRLD traded down $0.03 on Wednesday, reaching $0.76. The stock had a trading volume of 54,876 shares, compared to its average volume of 268,797. The stock has a market cap of $33.33 million, a P/E ratio of -0.43 and a beta of 1.30. The business's 50-day moving average price is $0.75 and its 200 day moving average price is $0.98. 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, topping the consensus estimate of ($0.47) by $0.05. On average, sell-side analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Insider Transactions at Prelude Therapeutics

In other news, insider Andrew Combs acquired 100,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were 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 of the company's stock, valued at $331,284.87. This represents a 26.31 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Krishna Vaddi purchased 675,000 shares of Prelude Therapeutics stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average price of $0.69 per share, for a total transaction of $465,750.00. Following the completion of the transaction, 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 position. The disclosure for this purchase can be found here. Insiders bought a total of 822,500 shares of company stock worth $568,475 in the last ninety days. Insiders own 62.80% of the company's stock.

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.