Two Sigma Investments LP Has $296,000 Stock Position in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Two Sigma Investments LP grew its position in Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 307.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 231,839 shares of the company’s stock after purchasing an additional 174,906 shares during the period. Two Sigma Investments LP’s holdings in Prelude Therapeutics were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP increased its stake in shares of Prelude Therapeutics by 526.3% in the 4th quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock valued at $382,000 after buying an additional 252,100 shares during the period. Millennium Management LLC increased its stake in shares of Prelude Therapeutics by 188.2% in the 4th quarter. Millennium Management LLC now owns 462,555 shares of the company’s stock valued at $590,000 after buying an additional 302,031 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Prelude Therapeutics by 280.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 666,574 shares of the company’s stock valued at $850,000 after buying an additional 491,595 shares during the period. Deutsche Bank AG increased its stake 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 valued at $159,000 after buying an additional 109,281 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Prelude Therapeutics in the 4th quarter worth $26,000. 79.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRLD has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Prelude Therapeutics in a research report on Monday, May 5th. JMP Securities restated a “market outperform” rating and issued a $4.00 price target on shares of Prelude Therapeutics in a research report on Tuesday, April 29th.

Insiders Place Their Bets

In other Prelude Therapeutics news, CEO Krishna Vaddi bought 675,000 shares of Prelude Therapeutics stock in a transaction on Tuesday, March 25th. The shares were purchased at an average cost of $0.69 per share, for a total transaction of $465,750.00. Following the completion of 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andrew Combs bought 100,000 shares of Prelude Therapeutics stock in a transaction on Tuesday, March 25th. The shares were acquired at an average price of $0.69 per share, for a total transaction of $69,000.00. Following the completion of the acquisition, the insider now owns 480,123 shares of the company’s stock, valued at approximately $331,284.87. This represents a 26.31% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 63.90% of the company’s stock.

Prelude Therapeutics Stock Down 8.5%

NASDAQ:PRLD opened at $1.08 on Wednesday. Prelude Therapeutics Incorporated has a 12-month low of $0.61 and a 12-month high of $6.80. The firm has a market capitalization of $60.98 million, a P/E ratio of -0.61 and a beta of 1.25. The stock’s fifty day simple moving average is $0.85 and its 200-day simple moving average is $0.93.

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

About Prelude Therapeutics

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.