Barclays PLC Increases Stock Holdings in Prime Medicine, Inc. (NYSE:PRME)

Barclays PLC grew its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 343.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,697 shares of the company’s stock after acquiring an additional 65,593 shares during the quarter. Barclays PLC owned about 0.06% of Prime Medicine worth $328,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PRME. Vestal Point Capital LP raised its holdings in shares of Prime Medicine by 137.8% during the 3rd quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock valued at $4,141,000 after buying an additional 620,000 shares in the last quarter. Millennium Management LLC lifted its position in shares of Prime Medicine by 205.7% in the 2nd quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock worth $6,841,000 after purchasing an additional 895,610 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Prime Medicine by 125.0% during the second quarter. Westwood Holdings Group Inc. now owns 358,580 shares of the company’s stock valued at $1,843,000 after purchasing an additional 199,229 shares in the last quarter. Geode Capital Management LLC grew its stake in Prime Medicine by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,359,979 shares of the company’s stock worth $5,264,000 after purchasing an additional 63,456 shares during the period. Finally, State Street Corp raised its holdings in Prime Medicine by 3.9% in the third quarter. State Street Corp now owns 1,146,949 shares of the company’s stock worth $4,439,000 after purchasing an additional 43,086 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Trading Up 0.7 %

PRME stock opened at $2.89 on Monday. The stock’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $3.94. Prime Medicine, Inc. has a 12-month low of $2.56 and a 12-month high of $9.77. The stock has a market capitalization of $379.06 million, a PE ratio of -1.41 and a beta of 1.86.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $55.00 million. On average, research analysts predict that Prime Medicine, Inc. will post -1.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PRME. JMP Securities started coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price on the stock. Guggenheim reissued a “buy” rating and set a $18.00 price objective on shares of Prime Medicine in a research note on Tuesday, December 3rd. Chardan Capital cut their price objective on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a report on Wednesday, November 13th. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine 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.