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In a recent transaction, Vaddi Krishna, the CEO of Prelude Therapeutics Inc . (NASDAQ:PRLD), acquired a significant amount of company stock. On March 25, Krishna purchased 675,000 shares of Prelude Therapeutics’ common stock at a price of $0.6925 per share, amounting to a total value of $467,437. The purchase comes as the stock has fallen nearly 87% over the past year, according to InvestingPro data, with shares currently trading below their Fair Value estimate.
Following this purchase, Krishna holds a total of 1,999,296 shares directly. Additionally, Krishna has indirect ownership of shares through various trusts and entities, including the Dolphin City Trust, Brocade Trust, Blue Sky Trust, and Sidus Ventures LLC. These trusts collectively hold a substantial number of shares, although Krishna disclaims beneficial ownership except to the extent of his pecuniary interest. The company maintains a strong liquidity position with a current ratio of 5.3 and holds more cash than debt on its balance sheet, as revealed by InvestingPro’s financial health analysis.
Investors often pay close attention to such transactions as they may indicate the executive’s confidence in the company’s future performance. Prelude Therapeutics, based in Wilmington, Delaware, operates in the pharmaceutical preparations industry, focusing on developing innovative therapies. With a market capitalization of $37.34 million and analyst price targets ranging from $1 to $5, detailed analysis of the company’s prospects is available in the comprehensive Pro Research Report on InvestingPro.
In other recent news, Prelude Therapeutics reported its fourth-quarter 2024 financial results, showcasing a strong cash position of $133.6 million. JMP Securities reiterated its Market Outperform rating on the company, maintaining a $4.00 price target. The firm highlighted Prelude’s progress in clinical trials, particularly noting the modest efficacy of PRT3789 as a monotherapy. Analysts from JMP are optimistic about the potential of PRT3789 as a combination therapy, especially given the objective responses observed in patients with upper gastrointestinal tract tumors. They anticipate further data in the second half of 2025, which will be pivotal for future market assessments. The analysts view Prelude Therapeutics as a distinct investment opportunity, with a potential downside of approximately 85% and an upside of up to 646%. They are looking forward to additional results from a larger patient cohort to further inform their outlook. These developments underscore the ongoing interest and analysis by JMP Securities regarding Prelude’s clinical advancements.
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