Key Points
- Orbimed Advisors LLC (a director) purchased 2,815,315 shares of Prelude Therapeutics at an average price of $4.44 per share (≈$12.5M), raising its direct stake to 11,808,945 shares — a 31.3% increase — according to an SEC filing.
- Prelude shares trade near $4.40 with a market cap of $277.2M; the company reported Q1 EPS of ($0.20) beating estimates while revenue of $5.64M fell short of expectations, and analysts are mixed with an average rating of Hold and an average price target of $5.50.
Prelude Therapeutics Incorporated (NASDAQ:PRLD - Get Free Report) Director Orbimed Advisors Llc acquired 2,815,315 shares of Prelude Therapeutics stock in a transaction dated Tuesday, April 21st. The shares were bought at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the transaction, the director directly owned 11,808,945 shares in the company, valued at approximately $52,431,715.80. The trade was a 31.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Prelude Therapeutics Trading Up 2.1%
Shares of NASDAQ:PRLD opened at $4.40 on Friday. The company has a market capitalization of $277.20 million, a PE ratio of -3.41 and a beta of 0.73. Prelude Therapeutics Incorporated has a twelve month low of $0.73 and a twelve month high of $5.54. The firm has a 50 day simple moving average of $3.41 and a 200-day simple moving average of $2.41.
Prelude Therapeutics (NASDAQ:PRLD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.13. The company had revenue of $5.64 million for the quarter, compared to analysts' expectations of $20.50 million.
Analyst Ratings Changes
Several analysts have recently weighed in on PRLD shares. Weiss Ratings restated a "sell (d-)" rating on shares of Prelude Therapeutics in a research report on Thursday, January 22nd. Citizens Jmp boosted their price objective on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the stock a "market outperform" rating in a research report on Wednesday, March 11th. Finally, Wall Street Zen cut shares of Prelude Therapeutics from a "buy" rating to a "hold" rating in a report on Sunday, January 18th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Prelude Therapeutics currently has an average rating of "Hold" and an average price target of $5.50.
Read Our Latest Report on Prelude Therapeutics
Institutional Trading of Prelude Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRLD. AQR Capital Management LLC raised its stake in Prelude Therapeutics by 170.7% during the 1st quarter. AQR Capital Management LLC now owns 33,823 shares of the company's stock valued at $26,000 after acquiring an additional 21,330 shares during the last quarter. Marshall Wace LLP acquired a new position in Prelude Therapeutics in the 2nd quarter valued at $34,000. XTX Topco Ltd raised its position in Prelude Therapeutics by 72.4% during the 2nd quarter. XTX Topco Ltd now owns 42,573 shares of the company's stock worth $34,000 after buying an additional 17,873 shares during the last quarter. Shay Capital LLC purchased a new position in Prelude Therapeutics during the 2nd quarter worth $61,000. Finally, Jane Street Group LLC purchased a new position in Prelude Therapeutics during the 2nd quarter worth $74,000. 79.72% of the stock is owned by hedge funds and other institutional investors.
About Prelude Therapeutics
(
Get Free Report)
Prelude Therapeutics Incorporated is a clinical-stage precision medicine company focused on the discovery and development of small molecule therapies for genetically defined oncology targets. By leveraging a chemical biology approach, the company aims to deliver targeted treatments that address key drivers of cancer cell growth and survival. Prelude's pipeline emphasizes novel inhibitors designed to engage molecular pathways validated by both preclinical and clinical evidence.
Among Prelude's lead programs is PRT2527, a selective PI3K‐alpha/delta inhibitor in Phase 1 clinical trials for solid tumors harboring PIK3CA and other pathway mutations.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
