Prime Medicine’s (PRME) “Buy” Rating Reiterated at HC Wainwright

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

Other analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Prime Medicine in a research note on Tuesday. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Prime Medicine in a research note on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a research note on Tuesday, December 3rd. StockNews.com raised Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. Finally, Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prime Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Prime Medicine Trading Down 3.0 %

Shares of PRME opened at $1.95 on Wednesday. The stock’s 50 day moving average is $2.56 and its two-hundred day moving average is $3.19. Prime Medicine has a twelve month low of $1.65 and a twelve month high of $8.27. The firm has a market capitalization of $255.76 million, a PE ratio of -0.95 and a beta of 1.85.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same quarter in the previous year, the firm posted ($2.18) earnings per share. On average, sell-side analysts predict that Prime Medicine will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Chelsea Counsel Co. boosted its holdings in shares of Prime Medicine by 137.4% during the fourth quarter. Chelsea Counsel Co. now owns 186,780 shares of the company’s stock worth $545,000 after purchasing an additional 108,090 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Prime Medicine by 96.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company’s stock worth $2,579,000 after buying an additional 433,653 shares during the period. Sherbrooke Park Advisers LLC acquired a new stake in Prime Medicine in the 4th quarter worth about $60,000. Point72 Asset Management L.P. purchased a new stake in Prime Medicine in the 4th quarter valued at about $200,000. Finally, ProShare Advisors LLC increased its stake in shares of Prime Medicine by 24.6% during the 4th quarter. ProShare Advisors LLC now owns 22,186 shares of the company’s stock valued at $65,000 after acquiring an additional 4,375 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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.