Prime Medicine (NYSE:PRME) Given Buy Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Prime Medicine (NYSE:PRME) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

Several other analysts have also recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research note on Thursday, August 8th. StockNews.com upgraded Prime Medicine to a “sell” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Prime Medicine Stock Performance

Shares of PRME opened at $3.96 on Wednesday. Prime Medicine has a fifty-two week low of $3.28 and a fifty-two week high of $9.86. The firm has a 50-day simple moving average of $3.88 and a 200-day simple moving average of $5.04. The company has a market capitalization of $475.32 million, a price-to-earnings ratio of -1.93 and a beta of 2.09.

Institutional Investors Weigh In On Prime Medicine

A number of large investors have recently added to or reduced their stakes in PRME. PEAK6 Investments LLC grew its holdings in shares of Prime Medicine by 32.4% during the 3rd quarter. PEAK6 Investments LLC now owns 45,013 shares of the company’s stock worth $174,000 after purchasing an additional 11,013 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Prime Medicine during the third quarter worth approximately $77,000. Intech Investment Management LLC acquired a new position in Prime Medicine in the third quarter worth $55,000. GSA Capital Partners LLP bought a new stake in Prime Medicine during the 3rd quarter worth about $383,000. Finally, Greenwich Wealth Management LLC grew its stake in shares of Prime Medicine by 12.3% during the third quarter. Greenwich Wealth Management LLC now owns 733,001 shares of the company’s stock valued at $2,837,000 after purchasing an additional 80,000 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

About Prime Medicine

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.