Geode Capital Management LLC Boosts Stock Holdings in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Geode Capital Management LLC increased its position in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 8.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 391,716 shares of the company’s stock after buying an additional 29,765 shares during the quarter. Geode Capital Management LLC’s holdings in Prelude Therapeutics were worth $811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of Prelude Therapeutics by 5.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 549,530 shares of the company’s stock worth $1,138,000 after acquiring an additional 27,155 shares during the period. State Street Corp increased its stake in shares of Prelude Therapeutics by 35.1% in the 3rd quarter. State Street Corp now owns 286,046 shares of the company’s stock valued at $592,000 after purchasing an additional 74,300 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Prelude Therapeutics by 885.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 174,979 shares of the company’s stock worth $362,000 after purchasing an additional 157,218 shares during the period. Walleye Capital LLC boosted its position in 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 purchasing an additional 67,946 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Prelude Therapeutics by 32.2% in the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock valued at $133,000 after purchasing an additional 15,682 shares during the period. Institutional investors and hedge funds own 79.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PRLD shares. JMP Securities reaffirmed a “market outperform” rating and set a $4.00 target price (down from $7.00) on shares of Prelude Therapeutics in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Prelude Therapeutics in a research report on Friday, November 8th.

Prelude Therapeutics Stock Performance

Shares of PRLD opened at $1.06 on Friday. The stock has a 50 day moving average price of $1.09 and a 200 day moving average price of $2.90. Prelude Therapeutics Incorporated has a one year low of $0.80 and a one year high of $6.80. The stock has a market capitalization of $58.34 million, a price-to-earnings ratio of -0.60 and a beta of 1.39.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.05. The business had revenue of $3.00 million for the quarter. On average, analysts predict that Prelude Therapeutics Incorporated will post -1.81 earnings per share for the current year.

Insider Buying and Selling at Prelude Therapeutics

In other news, insider Andrew Combs acquired 60,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the transaction, the insider now owns 377,623 shares in the company, valued at approximately $517,343.51. This trade represents a 18.89 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Krishna Vaddi bought 100,000 shares of Prelude Therapeutics stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $0.93 per share, for a total transaction of $93,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,167,275 shares of the company’s stock, valued at $1,085,565.75. This trade represents a 9.37 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 198,075 shares of company stock worth $213,486. 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.