Nisa Investment Advisors LLC Buys 12,507 Shares of Prime Medicine, Inc. (NYSE:PRME)

Nisa Investment Advisors LLC grew its stake in shares of Prime Medicine, Inc. (NYSE:PRME) by 11,474.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,616 shares of the company’s stock after acquiring an additional 12,507 shares during the period. Nisa Investment Advisors LLC’s holdings in Prime Medicine were worth $37,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vestal Point Capital LP boosted its holdings in Prime Medicine by 137.8% in the 3rd quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock valued at $4,141,000 after purchasing an additional 620,000 shares during the period. Millennium Management LLC grew its holdings in shares of Prime Medicine by 205.7% during 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 in the last quarter. Barclays PLC increased its position in shares of Prime Medicine by 343.3% in the third quarter. Barclays PLC now owns 84,697 shares of the company’s stock worth $328,000 after purchasing an additional 65,593 shares during the period. Geode Capital Management LLC raised 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 valued at $5,264,000 after purchasing an additional 63,456 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Prime Medicine by 3.9% during the 3rd quarter. State Street Corp now owns 1,146,949 shares of the company’s stock worth $4,439,000 after acquiring an additional 43,086 shares during the period. Institutional investors own 70.37% of the company’s stock.

Wall Street Analyst Weigh In

PRME has been the subject of a number of research analyst reports. Chardan Capital lowered their price target on Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Wednesday, January 15th. JMP Securities began coverage on Prime Medicine in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 target price for the company. Guggenheim restated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Trading Down 1.1 %

Shares of Prime Medicine stock opened at $2.80 on Friday. The business has a 50-day moving average price of $3.03 and a two-hundred day moving average price of $3.80. Prime Medicine, Inc. has a 1-year low of $2.56 and a 1-year high of $9.77. The company has a market cap of $367.25 million, a P/E ratio of -1.37 and a beta of 1.86.

Prime Medicine (NYSE:PRME) last posted 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 business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $55.00 million. Equities research analysts forecast that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

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.