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WILMINGTON, DE – Prelude Therapeutics Inc (NASDAQ:PRLD), a pharmaceutical company with a market capitalization of $39 million, recently reported that its CEO, Krishna Vaddi, has acquired additional shares of the company. According to a recent SEC filing, Vaddi purchased a total of 97,500 shares over two consecutive days, March 12th and 13th. These transactions were executed at prices ranging from $0.7104 to $0.7164 per share, amounting to a total investment of approximately $69,564. The purchases come as the stock trades near its 52-week low of $0.66, having declined 84% over the past year. InvestingPro analysis indicates the stock is currently undervalued.
Following these acquisitions, Vaddi’s direct ownership in Prelude Therapeutics increased to 1,264,775 shares. The transactions reflect a continued confidence in the company’s prospects by its leadership, despite InvestingPro data showing a WEAK financial health score. Prelude Therapeutics, based in Wilmington, specializes in pharmaceutical preparations and is actively involved in innovative cancer therapies. The company maintains a strong liquidity position with a current ratio of 5.3 and holds more cash than debt on its balance sheet. Discover more insights about insider trading patterns and 12 additional ProTips with an InvestingPro subscription.
In other recent news, Prelude Therapeutics reported its fourth-quarter 2024 financial results, ending the quarter with a robust cash position of $133.6 million. The company has two assets in clinical trials, with initial monotherapy results for PRT3789 showing modest efficacy. JMP Securities reiterated its Market Outperform rating on Prelude Therapeutics, maintaining a $4.00 price target. The analysts from JMP view the drug PRT3789 as a viable candidate for combination therapy, particularly noting objective responses in patients with upper gastrointestinal tract tumors. They anticipate further data in the second half of 2025, which will help in reassessing market models. Despite potential downside risks, the analysts see significant potential upside for the stock, estimating up to a 646% increase in a bull case scenario. The current outlook for Prelude Therapeutics remains positive, with JMP Securities expressing interest in additional results from a larger patient cohort.
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