Prelude Therapeutics (NASDAQ:PRLD) Director Orbimed Advisors Llc Acquires 2,815,315 Shares of Stock

Prelude Therapeutics Incorporated (NASDAQ:PRLD) Director Orbimed Advisors Llc acquired 2,815,315 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was acquired at an average price of $4.44 per share, with a total value of $12,499,998.60. Following the acquisition, the director directly owned 11,808,945 shares of the company’s stock, valued at approximately $52,431,715.80. This represents a 31.30% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Prelude Therapeutics Stock Performance

Shares of PRLD stock opened at $4.40 on Friday. The stock has a market capitalization of $277.20 million, a P/E ratio of -3.41 and a beta of 0.73. The company has a 50 day moving average price of $3.41 and a 200 day moving average price of $2.41. Prelude Therapeutics Incorporated has a fifty-two week low of $0.73 and a fifty-two week high of $5.54.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. The business had revenue of $5.64 million during the quarter, compared to analyst estimates of $20.50 million.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citizens Jmp lifted their price target on shares of Prelude Therapeutics from $3.00 to $6.00 and gave the stock a “market outperform” rating in a research note on Wednesday, March 11th. Wall Street Zen downgraded shares of Prelude Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prelude Therapeutics in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRLD. AQR Capital Management LLC lifted its stake in Prelude Therapeutics by 170.7% in the first quarter. AQR Capital Management LLC now owns 33,823 shares of the company’s stock worth $26,000 after acquiring an additional 21,330 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $34,000. XTX Topco Ltd lifted its position in shares of 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 stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $61,000. Finally, Jane Street Group LLC purchased a new stake in shares of Prelude Therapeutics during the 2nd quarter worth approximately $74,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

About Prelude Therapeutics

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.