Deerfield Mgmt Discloses 4.13M Shared Vote in Prelude Therapeutics

TL;DR

**Deerfield Mgmt still holds 4.13M shares of Prelude, big institutional backing.**

AI Summary

Deerfield Management Company, L.P. and its affiliates, including Deerfield Mgmt, L.P. and Deerfield Partners, L.P., filed an amended SC 13G/A on February 12, 2024, disclosing their beneficial ownership in Prelude Therapeutics Inc. As of December 31, 2023, the group collectively holds shared voting power over 4,133,000 shares of Prelude Therapeutics' common stock. This filing indicates a significant institutional stake, which can influence the company's strategic decisions and potentially impact stock price due to the confidence (or lack thereof) shown by a major investor.

Why It Matters

This filing shows that a major institutional investor, Deerfield Management, maintains a substantial stake in Prelude Therapeutics, signaling their continued interest and potential influence over the company's future direction.

Risk Assessment

Risk Level: low — This filing is an amendment to an existing disclosure, indicating a stable or slightly adjusted institutional holding rather than a new, volatile event.

Analyst Insight

Investors should note that a major institutional investor, Deerfield Management, continues to hold a substantial position in Prelude Therapeutics, which could be interpreted as a vote of confidence in the company's long-term prospects. However, this filing alone doesn't indicate any immediate buying or selling action by Deerfield, so further research into Prelude's fundamentals and Deerfield's investment thesis would be prudent.

Key Numbers

• 4,133,000 — Shared Voting Power Shares (Represents the number of common stock shares of Prelude Therapeutics Inc. over which Deerfield Mgmt, L.P. and its group members have shared voting power as of December 31, 2023.)

Key Players & Entities

• Deerfield Management Company, L.P. (company) — reporting person and group member
• Deerfield Mgmt, L.P. (company) — reporting person and group member
• Deerfield Partners, L.P. (company) — group member
• Prelude Therapeutics Inc. (company) — subject company (issuer)
• Flynn James E (person) — filer (though the primary reporting person is Deerfield Mgmt, L.P.)
• 4,133,000 (dollar_amount) — number of shares with shared voting power

Forward-Looking Statements

• Deerfield Management will maintain a significant stake in Prelude Therapeutics for the foreseeable future. (Deerfield Management Company, L.P.) — medium confidence, target: 2025-12-31

FAQ

Filing Documents

• e619249_sc13ga-prelude.htm (SC 13G/A) — 103KB
• 0001193805-24-000187.txt ( ) — 105KB

(a)

Item 1(a). Name of Issuer: Prelude Therapeutics Incorporated

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 200 Powder Mill Road Wilmington, DE 19803

(a)

Item 2(a). Name of Person Filing: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P.

(b)

Item 2(b). Address of Principal Business Office, or if None, Residence: James E. Flynn, Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P., 345 Park Avenue South, 12th Floor, New York, NY 10010

(c)

Item 2(c). Citizenship: Deerfield Mgmt, L.P., Deerfield Management Company, L.P. and Deerfield Partners, L.P. - Delaware limited partnerships; James E. Flynn – United States citizen

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 74065P101 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Exchange Act. (b) Bank as defined in Section 3(a)(6) of the Exchange Act. (c) Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) Investment company registered under Section 8 of the Investment Company Act. (e) An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; CUSIP No. 74065P101 13G Page 7 of 9 (j) A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: ___________________________________________ Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned**: Deerfield Mgmt, L.P. – 4,133,000 shares Deerfield Management Company, L.P. - 4,133,000 shares Deerfield Partners, L.P. - 4,133,000 shares James E. Flynn – 4,133,000 shares (b) Percent of class**: Deerfield Mgmt, L.P. – 9.85% Deerfield Management Company, L.P. – 9.85% Deerfield Partners, L.P. – 9.85% James E. Flynn – 9.85% (c) Number of shares as to which such person has**: (i) Sole power to vote or to direct the vote: All Reporting Persons 0

View Full Filing

View this SC 13G/A filing on SEC EDGAR