Greenwich Wealth Management LLC Increases Stake in Prime Medicine, Inc. (NYSE:PRME)

Greenwich Wealth Management LLC grew its holdings in Prime Medicine, Inc. (NYSE:PRME) by 13.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 653,001 shares of the company’s stock after buying an additional 75,000 shares during the period. Greenwich Wealth Management LLC owned 0.54% of Prime Medicine worth $3,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Chelsea Counsel Co. increased its stake in shares of Prime Medicine by 733.3% in the 4th quarter. Chelsea Counsel Co. now owns 5,000 shares of the company’s stock worth $44,000 after acquiring an additional 4,400 shares during the last quarter. ORG Partners LLC acquired a new stake in Prime Medicine during the second quarter worth about $29,000. National Bank of Canada FI purchased a new position in Prime Medicine during the second quarter worth about $34,000. Nisa Investment Advisors LLC grew its stake in shares of Prime Medicine by 22,652.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after buying an additional 7,702 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Prime Medicine by 19.8% in the 1st quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock valued at $107,000 after buying an additional 2,520 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Prime Medicine Stock Performance

PRME stock opened at $4.09 on Monday. The company’s 50 day moving average price is $4.77 and its 200 day moving average price is $5.82. The firm has a market capitalization of $490.93 million, a price-to-earnings ratio of -1.88 and a beta of 2.18. Prime Medicine, Inc. has a fifty-two week low of $3.47 and a fifty-two week high of $13.09.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.06). Equities analysts forecast that Prime Medicine, Inc. will post -1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PRME shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a report on Friday, August 9th. StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Wednesday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Prime Medicine in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Prime Medicine presently has an average rating of “Moderate Buy” and a consensus target price of $14.11.

Prime Medicine 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.