Charles Schwab Investment Management Inc. Sells 16,049 Shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Charles Schwab Investment Management Inc. cut its stake in Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 12.0% in the fourth quarter, HoldingsChannel reports. The fund owned 117,200 shares of the company’s stock after selling 16,049 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Prelude Therapeutics were worth $149,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings 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 buying an additional 12,564 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Prelude Therapeutics during the third quarter worth $100,000. Walleye Capital LLC raised its position in shares of Prelude Therapeutics by 446.2% during the third quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock worth $172,000 after acquiring an additional 67,946 shares during the last quarter. Rhumbline Advisers lifted its stake 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 valued at $213,000 after acquiring an additional 154,826 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Prelude Therapeutics by 885.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock valued at $362,000 after acquiring an additional 157,218 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JMP Securities reissued a “market outperform” rating and set a $4.00 price objective (down from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th.

Insider Transactions at Prelude Therapeutics

In other news, insider Andrew Combs bought 100,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was purchased at an average price of $0.69 per share, with a total value of $69,000.00. Following the completion of the purchase, the insider now owns 480,123 shares of the company’s stock, valued at approximately $331,284.87. This trade represents a 26.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Krishna Vaddi purchased 47,500 shares of Prelude Therapeutics stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $0.71 per share, for a total transaction of $33,725.00. Following the completion of the transaction, the chief executive officer now owns 1,214,775 shares of the company’s stock, valued at approximately $862,490.25. This represents a 4.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 822,500 shares of company stock worth $568,475. 62.80% of the stock is currently owned by company insiders.

Prelude Therapeutics Stock Performance

PRLD opened at $0.77 on Wednesday. The company has a fifty day moving average price of $0.88 and a two-hundred day moving average price of $1.23. The firm has a market capitalization of $42.49 million, a PE ratio of -0.43 and a beta of 1.43. Prelude Therapeutics Incorporated has a 52 week low of $0.63 and a 52 week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.11. The company had revenue of $4.00 million for the quarter. Equities analysts forecast that Prelude Therapeutics Incorporated will post -1.81 EPS 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.