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Andrew Combs, Chief Chemistry Officer at Prelude Therapeutics Inc (NASDAQ:PRLD), recently acquired 100,000 shares of the company’s common stock. The transaction, which took place on March 25, 2025, was executed at a price of $0.6925 per share, amounting to a total purchase value of $69,250. This insider purchase comes as the stock has experienced significant pressure, declining nearly 87% over the past year. According to InvestingPro analysis, the company currently appears undervalued relative to its Fair Value.
Following this acquisition, Combs now holds a total of 480,123 shares directly. This figure includes an additional 2,500 shares acquired through Prelude’s Employee Stock Purchase Plan, as noted in a footnote accompanying the filing. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 5.3x and more cash than debt on its balance sheet.
The transaction was reported in a Form 4 filing with the Securities and Exchange Commission, underscoring Combs’ continued investment in the pharmaceutical company. Discover more insights about PRLD and access comprehensive analysis of 1,400+ US stocks with InvestingPro’s detailed research reports.
In other recent news, Prelude Therapeutics reported its fourth-quarter 2024 financial results, highlighting a strong cash position of $133.6 million. The company also provided updates on its clinical trials, particularly focusing on the drug PRT3789, which showed modest efficacy as a monotherapy. Analysts from JMP Securities reiterated a Market Outperform rating for Prelude Therapeutics, maintaining a price target of $4.00. They view the stock as a distinct investment opportunity with a potential downside to $0 in a bear case and an upside to $5 per share in a bull case. The analysts are particularly interested in the objective responses from patients with upper gastrointestinal tract tumors treated with PRT3789. Future data expected in the second half of 2025 will be crucial for reassessing market models. JMP Securities remains optimistic about Prelude Therapeutics, anticipating additional results from a larger patient cohort.
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