Short Interest in Prelude Therapeutics Incorporated (NASDAQ:PRLD) Decreases By 30.3%

Prelude Therapeutics Incorporated (NASDAQ:PRLD) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 2,160,000 shares, a decrease of 30.3% from the February 13th total of 3,100,000 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average daily trading volume, of 392,100 shares, the days-to-cover ratio is currently 5.5 days.

Insider Buying and Selling at Prelude Therapeutics

In other Prelude Therapeutics news, CEO Krishna Vaddi purchased 100,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of $0.93 per share, for a total transaction of $93,000.00. Following the acquisition, the chief executive officer now owns 1,167,275 shares in the company, valued at $1,085,565.75. This trade represents a 9.37 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Combs acquired 60,000 shares of Prelude Therapeutics stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $1.37 per share, for a total transaction of $82,200.00. Following the completion of the acquisition, the insider now owns 377,623 shares in the company, valued at $517,343.51. This trade represents a 18.89 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 245,575 shares of company stock worth $247,211 in the last three months. 62.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Prelude Therapeutics

A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP lifted its position in shares of Prelude Therapeutics by 307.2% during the 4th quarter. Two Sigma Investments LP now owns 231,839 shares of the company’s stock worth $296,000 after purchasing an additional 174,906 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Prelude Therapeutics by 526.3% during the 4th quarter. Two Sigma Advisers LP now owns 300,000 shares of the company’s stock worth $382,000 after buying an additional 252,100 shares during the last quarter. Millennium Management LLC boosted its position in shares of Prelude Therapeutics by 188.2% during the 4th quarter. Millennium Management LLC now owns 462,555 shares of the company’s stock worth $590,000 after acquiring an additional 302,031 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings 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 acquiring an additional 491,595 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Prelude Therapeutics by 747.6% during the 4th quarter. Deutsche Bank AG now owns 123,899 shares of the company’s stock worth $159,000 after acquiring an additional 109,281 shares in the last quarter. 79.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Prelude Therapeutics Stock Up 1.5 %

NASDAQ:PRLD traded up $0.01 on Monday, reaching $0.76. 165,775 shares of the company’s stock were exchanged, compared to its average volume of 244,245. The business has a fifty day moving average of $0.97 and a 200-day moving average of $1.58. Prelude Therapeutics has a 52-week low of $0.66 and a 52-week high of $6.80. The firm has a market capitalization of $41.70 million, a price-to-earnings ratio of -0.42 and a beta of 1.43.

Prelude Therapeutics (NASDAQ:PRLD) last released its earnings results on Monday, March 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.11. The company had revenue of $4.00 million during the quarter. As a group, equities analysts anticipate that Prelude Therapeutics will post -1.81 earnings per share for the current year.

Prelude Therapeutics Company 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.