Prime Medicine (NYSE:PRME) Earns “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Prime Medicine (NYSE:PRME) in a research note published on Tuesday,RTT News reports. The brokerage currently has a $13.00 price target on the stock, up from their previous price target of $12.00.

A number of other research firms have also recently issued reports on PRME. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research report on Monday, March 3rd. StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. JMP Securities started coverage on Prime Medicine in a report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a research report on Tuesday, December 3rd. Finally, Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Prime Medicine Trading Up 0.5 %

NYSE PRME opened at $2.01 on Tuesday. The stock has a 50-day moving average of $2.58 and a 200-day moving average of $3.21. The firm has a market cap of $263.63 million, a PE ratio of -0.98 and a beta of 1.85. Prime Medicine has a 1-year low of $1.65 and a 1-year high of $8.27.

Prime Medicine (NYSE:PRME) last issued its earnings results on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same period in the previous year, the company posted ($2.18) EPS. As a group, equities research analysts forecast that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. American Century Companies Inc. bought a new position in Prime Medicine during the 4th quarter valued at approximately $33,000. Paloma Partners Management Co purchased a new stake in shares of Prime Medicine in the third quarter worth $45,000. Nisa Investment Advisors LLC increased its holdings in shares of Prime Medicine by 11,474.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after acquiring an additional 12,507 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Prime Medicine in the 3rd quarter worth about $55,000. Finally, XTX Topco Ltd bought a new position in Prime Medicine in the 4th quarter worth about $42,000. 70.37% of the stock is currently owned by institutional investors.

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.