Prime Medicine (NYSE:PRME) Upgraded at StockNews.com

StockNews.com upgraded shares of Prime Medicine (NYSE:PRME) to a sell rating in a report published on Thursday morning.

Several other analysts also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research report on Wednesday. Chardan Capital reduced their price objective on Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $12.00 target price on shares of Prime Medicine in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Prime Medicine Price Performance

Shares of NYSE PRME opened at $3.35 on Thursday. The firm’s 50-day moving average price is $3.88 and its two-hundred day moving average price is $5.01. Prime Medicine has a 52-week low of $3.28 and a 52-week high of $9.86.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $0.21 million during the quarter, compared to analyst estimates of $55.00 million. On average, analysts predict that Prime Medicine will post -1.71 EPS for the current year.

Institutional Trading of Prime Medicine

Several institutional investors have recently modified their holdings of PRME. Westwood Holdings Group Inc. bought a new stake in Prime Medicine in the first quarter worth about $1,115,000. Vanguard Group Inc. boosted its position in shares of Prime Medicine by 43.1% during the 1st quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock valued at $40,610,000 after purchasing an additional 1,746,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Prime Medicine by 13.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock worth $17,660,000 after purchasing an additional 301,431 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Prime Medicine by 205.7% in the 2nd quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock worth $6,841,000 after purchasing an additional 895,610 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Prime Medicine during the first quarter valued at approximately $148,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

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.