Wellington Management Group LLP purchased a new stake in Prime Medicine, Inc. (NASDAQ:PRME – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 304,444 shares of the company’s stock, valued at approximately $1,123,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in Prime Medicine by 1,316.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company’s stock worth $38,000 after purchasing an additional 6,345 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Prime Medicine by 89.3% during the 1st quarter. Royal Bank of Canada now owns 9,254 shares of the company’s stock valued at $32,000 after purchasing an additional 4,365 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Prime Medicine during the 4th quarter valued at about $33,000. Glen Eagle Advisors LLC purchased a new position in shares of Prime Medicine during the fourth quarter valued at about $35,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Prime Medicine during the second quarter valued at about $37,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
Prime Medicine Price Performance
Shares of NASDAQ PRME opened at $3.13 on Friday. Prime Medicine, Inc. has a 1 year low of $2.67 and a 1 year high of $6.94. The stock has a market cap of $567.72 million, a P/E ratio of -2.95 and a beta of 2.34. The firm has a 50-day moving average of $3.36 and a 200 day moving average of $3.44.
Wall Street Analysts Forecast Growth
Several analysts have commented on PRME shares. New Street Research set a $8.00 price objective on shares of Prime Medicine in a report on Monday, June 29th. TD Cowen reiterated a “buy” rating on shares of Prime Medicine in a report on Wednesday, July 8th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Prime Medicine in a research note on Monday, August 10th. Weiss Ratings restated a “sell (e+)” rating on shares of Prime Medicine in a research report on Monday, August 31st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Prime Medicine in a research note on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.47.
Get Our Latest Analysis on Prime Medicine
About Prime Medicine
We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.
Read More
- Five stocks we like better than Prime Medicine
- Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model
- Kroger’s Textbook Entry for Buy-and-Hold Investors
- AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window
- Amgen Drops 10% on a Trial It Didn’t Even Run
Want to see what other hedge funds are holding PRME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prime Medicine, Inc. (NASDAQ:PRME – Free Report).
Receive News & Ratings for Prime Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prime Medicine and related companies with MarketBeat.com's FREE daily email newsletter.
