Prime Medicine (NYSE:PRME) Raised to Sell at StockNews.com

Prime Medicine (NYSE:PRME) was upgraded by analysts at StockNews.com to a “sell” rating in a note issued to investors on Thursday.

PRME has been the topic of a number of other research reports. Chardan Capital dropped their price objective on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Prime Medicine in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Prime Medicine Trading Down 7.0 %

NYSE PRME opened at $3.35 on Thursday. Prime Medicine has a 12 month low of $3.28 and a 12 month high of $9.86. The company’s 50-day moving average price is $3.88 and its 200-day moving average price is $5.02. The stock has a market cap of $438.73 million, a PE ratio of -1.63 and a beta of 2.09.

Hedge Funds Weigh In On Prime Medicine

A number of hedge funds have recently modified their holdings of PRME. ORG Partners LLC purchased a new stake in shares of Prime Medicine in the 2nd quarter valued at $29,000. National Bank of Canada FI acquired a new stake in shares of Prime Medicine during the second quarter worth about $34,000. Nisa Investment Advisors LLC boosted its position in 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. Paloma Partners Management Co acquired a new position in shares of Prime Medicine during the third quarter worth about $45,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Prime Medicine during the third quarter worth approximately $55,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

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.