Prime Medicine, Inc. (NYSE:PRME) Position Increased by TrueMark Investments LLC

TrueMark Investments LLC raised its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 13.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,183 shares of the company’s stock after buying an additional 10,153 shares during the period. TrueMark Investments LLC owned about 0.07% of Prime Medicine worth $596,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PRME. Citigroup Inc. boosted its holdings in Prime Medicine by 296.8% during the third quarter. Citigroup Inc. now owns 56,193 shares of the company’s stock worth $536,000 after buying an additional 42,032 shares in the last quarter. Profund Advisors LLC acquired a new position in Prime Medicine in the 3rd quarter worth approximately $210,000. Vanguard Group Inc. boosted its stake in Prime Medicine by 18.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,951,793 shares of the company’s stock worth $37,700,000 after purchasing an additional 617,310 shares during the period. SG Americas Securities LLC acquired a new position in Prime Medicine in the 4th quarter worth approximately $90,000. Finally, ARK Investment Management LLC boosted its stake in Prime Medicine by 19.7% in the 4th quarter. ARK Investment Management LLC now owns 3,138,270 shares of the company’s stock worth $27,805,000 after purchasing an additional 515,841 shares during the period. 70.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PRME shares. TD Cowen started coverage on shares of Prime Medicine in a research note on Monday, April 8th. They issued a “buy” rating for the company. HC Wainwright started coverage on shares of Prime Medicine in a research note on Monday, May 20th. They issued a “buy” rating and a $10.00 price objective for the company. Chardan Capital began coverage on shares of Prime Medicine in a research note on Monday, April 22nd. They issued a “buy” rating and a $17.00 price objective for the company. Citigroup upgraded shares of Prime Medicine from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, May 16th. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.09.

Prime Medicine Stock Performance

Shares of Prime Medicine stock traded down $0.35 during midday trading on Tuesday, reaching $5.89. 959,375 shares of the company’s stock traded hands, compared to its average volume of 771,096. The company has a market cap of $706.98 million, a price-to-earnings ratio of -2.71 and a beta of 2.34. The company’s 50 day simple moving average is $6.17 and its 200 day simple moving average is $7.10. Prime Medicine, Inc. has a 52 week low of $4.11 and a 52 week high of $15.75.

Prime Medicine (NYSE:PRME) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.01. The business had revenue of $0.59 million for the quarter. As a group, equities research analysts predict that Prime Medicine, Inc. will post -1.64 earnings per share for the current year.

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.