Oppenheimer & Co. Inc. Has $69,000 Stock Holdings in Prime Medicine, Inc. (NYSE:PRME)

Oppenheimer & Co. Inc. decreased its position in shares of Prime Medicine, Inc. (NYSE:PRME) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,871 shares of the company’s stock after selling 3,160 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prime Medicine were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. ProShare Advisors LLC boosted its position in Prime Medicine by 19.8% in the first 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 in the last quarter. Squarepoint Ops LLC boosted its position in Prime Medicine by 6.5% in the second quarter. Squarepoint Ops LLC now owns 63,461 shares of the company’s stock valued at $326,000 after buying an additional 3,895 shares in the last quarter. ORG Partners LLC acquired a new stake in Prime Medicine in the second quarter valued at approximately $29,000. National Bank of Canada FI acquired a new stake in Prime Medicine in the second quarter valued at approximately $34,000. Finally, Levin Capital Strategies L.P. boosted its position in Prime Medicine by 32.5% in the first quarter. Levin Capital Strategies L.P. now owns 26,500 shares of the company’s stock valued at $186,000 after buying an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Chardan Capital cut their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Wedbush restated an “outperform” rating and issued a $12.00 target price on shares of Prime Medicine in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Prime Medicine in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Prime Medicine Stock Performance

PRME stock opened at $3.20 on Friday. Prime Medicine, Inc. has a 52-week low of $2.85 and a 52-week high of $9.86. The company has a fifty day moving average price of $3.79 and a 200-day moving average price of $4.93. The company has a market capitalization of $419.71 million, a P/E ratio of -1.56 and a beta of 2.09.

Prime Medicine (NYSE:PRME) last announced its earnings results on Tuesday, November 12th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $55.00 million. As a group, sell-side analysts forecast that Prime Medicine, Inc. will post -1.7 earnings per share for the current fiscal 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.