Intech Investment Management LLC Acquires Shares of 14,102 Prime Medicine, Inc. (NYSE:PRME)

Intech Investment Management LLC acquired a new stake in Prime Medicine, Inc. (NYSE:PRME) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,102 shares of the company’s stock, valued at approximately $55,000.

A number of other institutional investors have also modified their holdings of the business. ORG Partners LLC purchased a new stake in shares of Prime Medicine in the second quarter valued at about $29,000. National Bank of Canada FI purchased a new position in Prime Medicine during the 2nd quarter valued at about $34,000. Nisa Investment Advisors LLC grew its position in shares of Prime Medicine by 22,652.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after purchasing an additional 7,702 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Prime Medicine during the 2nd quarter worth approximately $97,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Prime Medicine by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,086 shares of the company’s stock valued at $89,000 after buying an additional 8,985 shares in the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PRME. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a report on Wednesday, November 13th. Guggenheim reiterated a “buy” rating and issued a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, Chardan Capital reduced their price target 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. One equities 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 stock. According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

Prime Medicine Price Performance

Shares of Prime Medicine stock opened at $3.27 on Monday. Prime Medicine, Inc. has a 1-year low of $2.85 and a 1-year high of $9.86. The business has a 50-day moving average of $3.70 and a 200-day moving average of $4.67. The company has a market capitalization of $428.90 million, a PE ratio of -1.60 and a beta of 1.88.

Prime Medicine (NYSE:PRME) last released its quarterly 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 firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $55.00 million. On average, equities analysts expect that Prime Medicine, Inc. will post -1.7 earnings per share for the current fiscal year.

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.