Prime Medicine’s (PRME) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Prime Medicine (NYSE:PRME) in a research note published on Monday,RTT News reports. Wedbush currently has a $8.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Citigroup restated a “neutral” rating on shares of Prime Medicine in a research note on Wednesday, October 29th. Chardan Capital dropped their target price on Prime Medicine from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.21.

Prime Medicine Stock Down 9.4%

NYSE PRME opened at $3.55 on Monday. The company has a market cap of $477.74 million, a PE ratio of -1.73 and a beta of 2.64. Prime Medicine has a 52 week low of $1.11 and a 52 week high of $6.94. The firm’s 50-day simple moving average is $4.99 and its two-hundred day simple moving average is $3.50.

Institutional Trading of Prime Medicine

Several institutional investors and hedge funds have recently bought and sold shares of PRME. China Universal Asset Management Co. Ltd. grew its position in shares of Prime Medicine by 16.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 30,650 shares of the company’s stock valued at $170,000 after purchasing an additional 4,280 shares in the last quarter. AXQ Capital LP boosted its stake in Prime Medicine by 19.2% during the third quarter. AXQ Capital LP now owns 44,818 shares of the company’s stock valued at $248,000 after buying an additional 7,231 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Prime Medicine by 52.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,191 shares of the company’s stock valued at $57,000 after buying an additional 7,954 shares during the period. Jones Financial Companies Lllp purchased a new position in Prime Medicine during the third quarter worth about $49,000. Finally, Rhumbline Advisers increased its stake in Prime Medicine by 13.8% in the 1st quarter. Rhumbline Advisers now owns 81,900 shares of the company’s stock worth $163,000 after acquiring an additional 9,944 shares during the last quarter. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Prime Medicine Company Profile

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.