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WILMINGTON, Del.—Vaddi Krishna, CEO of Prelude Therapeutics Inc (NASDAQ:PRLD), has recently increased his stake in the company. The insider purchase comes as the stock trades near its 52-week low of $0.66, having declined about 85% over the past year. According to InvestingPro analysis, the company maintains a strong liquidity position with more cash than debt on its balance sheet. According to a recent SEC filing, Krishna purchased a total of 20,416 shares of common stock over two days, March 20 and March 21, 2025.
The transactions were executed at weighted average prices ranging from $0.7294 to $0.7306 per share, amounting to a total investment of approximately $14,909. Following these transactions, Krishna now directly owns 1,324,296 shares in the pharmaceutical company.
In addition to his direct holdings, Krishna has indirect ownership interests in several trusts and entities, including the Dolphin City Trust, Brocade Trust, Blue Sky Trust, and Sidus Ventures LLC. However, he disclaims beneficial ownership of these securities except to the extent of his pecuniary interest. The company’s financial health metrics and detailed analysis are available in the comprehensive Pro Research Report on InvestingPro, which covers over 1,400 US stocks.
In other recent news, Prelude Therapeutics released its fourth-quarter 2024 financial results, revealing a strong cash position of $133.6 million. The company is advancing two assets through 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 noted the potential of PRT3789 as a viable candidate for combination therapy, especially given the objective responses observed in patients with upper gastrointestinal tract tumors. They estimate a potential downside of approximately 85% and a potential upside of up to 646% for the stock, with a bear case scenario of $0 and a bull case scenario of $5 per share. JMP Securities is particularly optimistic about the future, anticipating further data in the second half of 2025 that will inform their market models. The firm continues to view Prelude Therapeutics as a distinct investment opportunity, looking forward to additional results from a larger patient cohort.
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