Jacobs Levy Equity Management Inc. Increases Stock Holdings in Prelude Therapeutics Incorporated (NASDAQ:PRLD)

Jacobs Levy Equity Management Inc. lifted its stake in shares of Prelude Therapeutics Incorporated (NASDAQ:PRLD) by 885.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 174,979 shares of the company’s stock after buying an additional 157,218 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Prelude Therapeutics were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Prelude Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock valued at $4,821,000 after buying an additional 10,143 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 valued at $1,138,000 after acquiring an additional 27,155 shares in the last quarter. Walleye Capital LLC increased its stake in shares of 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 acquiring an additional 67,946 shares during the period. Exchange Traded Concepts LLC raised 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 purchasing an additional 15,682 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Prelude Therapeutics by 103.2% during the second quarter. Dimensional Fund Advisors LP now owns 29,074 shares of the company’s stock worth $111,000 after purchasing an additional 14,769 shares in the last quarter. 79.72% of the stock is owned by institutional investors and hedge funds.

Prelude Therapeutics Trading Up 7.9 %

PRLD stock opened at $1.03 on Tuesday. The company’s 50-day moving average price is $1.42 and its 200 day moving average price is $3.36. Prelude Therapeutics Incorporated has a 52 week low of $0.92 and a 52 week high of $6.80. The company has a market cap of $56.69 million, a P/E ratio of -0.58 and a beta of 1.49.

Prelude Therapeutics (NASDAQ:PRLD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.48) by $0.05. The firm had revenue of $3.00 million for the quarter. On average, equities research analysts expect that Prelude Therapeutics Incorporated will post -1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PRLD shares. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Prelude Therapeutics in a report on Friday, November 8th. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Prelude Therapeutics in a research note on Monday, September 16th.

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.