Geode Capital Management LLC Grows Stake in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Geode Capital Management LLC lifted its position in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.71% of Prelude Therapeutics worth $811,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PRLD. Barclays PLC increased its position in Prelude Therapeutics by 86.0% during the 3rd quarter. Barclays PLC now owns 27,165 shares of the company’s stock valued at $57,000 after purchasing an additional 12,564 shares during the period. XTX Topco Ltd purchased a new position in Prelude Therapeutics during the third quarter valued at approximately $100,000. Dimensional Fund Advisors LP raised its stake in Prelude Therapeutics by 103.2% in the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after buying an additional 14,769 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Prelude Therapeutics by 32.2% during the third quarter. Exchange Traded Concepts LLC now owns 64,409 shares of the company’s stock worth $133,000 after buying an additional 15,682 shares during the period. Finally, Walleye Capital LLC boosted its position in Prelude Therapeutics by 446.2% during the 3rd quarter. Walleye Capital LLC now owns 83,175 shares of the company’s stock valued at $172,000 after acquiring an additional 67,946 shares in the last quarter. Hedge funds and other institutional investors own 79.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Prelude Therapeutics in a research report on Friday, November 8th. JMP Securities reiterated a “market outperform” rating and issued a $4.00 target price (down from $7.00) on shares of Prelude Therapeutics in a report on Wednesday, December 11th.

Insiders Place Their Bets

In other Prelude Therapeutics news, insider Andrew Combs acquired 60,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $1.37 per share, for a total transaction of $82,200.00. Following the purchase, the insider now owns 377,623 shares in the company, valued at approximately $517,343.51. The trade was a 18.89 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Krishna Vaddi acquired 100,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $0.93 per share, for a total transaction of $93,000.00. Following the purchase, the chief executive officer now directly owns 1,167,275 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders purchased 198,075 shares of company stock valued at $213,486. Insiders own 62.80% of the company’s stock.

Prelude Therapeutics Price Performance

Shares of PRLD stock opened at $1.06 on Friday. The stock’s fifty day moving average price is $1.09 and its 200 day moving average price is $2.90. Prelude Therapeutics Incorporated has a 1-year low of $0.80 and a 1-year high of $6.80. The company has a market cap of $58.34 million, a price-to-earnings ratio of -0.60 and a beta of 1.39.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.05. The company had revenue of $3.00 million during the quarter. As a group, equities research analysts anticipate 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.