Prelude Therapeutics Incorporated (NASDAQ:PRLD) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD trimmed its holdings in Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,029,199 shares of the company’s stock after selling 68,400 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Prelude Therapeutics were worth $1,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC grew its position in Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock worth $57,000 after purchasing an additional 12,564 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Prelude Therapeutics by 925.0% during the fourth quarter. JPMorgan Chase & Co. now owns 61,149 shares of the company’s stock worth $78,000 after buying an additional 55,183 shares during the last quarter. Rhumbline Advisers increased its position in Prelude Therapeutics by 1,289.8% in the 4th 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. Marshall Wace LLP raised its stake in Prelude Therapeutics by 9.2% during the 4th 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 last quarter. Finally, Renaissance Technologies LLC lifted its position in Prelude Therapeutics by 222.2% during the 4th quarter. Renaissance Technologies LLC now owns 634,500 shares of the company’s stock worth $809,000 after acquiring an additional 437,600 shares during the period. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Prelude Therapeutics Price Performance

PRLD opened at $0.78 on Friday. The business has a 50 day simple moving average of $0.76 and a 200-day simple moving average of $0.97. Prelude Therapeutics Incorporated has a 12 month low of $0.61 and a 12 month high of $6.80. The stock has a market capitalization of $34.06 million, a P/E ratio of -0.44 and a beta of 1.30.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. Research analysts anticipate that Prelude Therapeutics Incorporated will post -1.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and set a $4.00 price target on shares of Prelude Therapeutics in a report on Tuesday, April 29th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Prelude Therapeutics in a research note on Monday, May 5th.

Insiders Place Their Bets

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

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.