Prime Medicine’s (PRME) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Prime Medicine (NYSE:PRME) in a research report report published on Monday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Prime Medicine in a research note on Monday. Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a research note on Tuesday, December 10th. Guggenheim reissued a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a research note on Tuesday, December 3rd. JMP Securities initiated coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Stock Down 11.5 %

Shares of Prime Medicine stock opened at $2.23 on Monday. Prime Medicine has a twelve month low of $2.22 and a twelve month high of $8.91. The stock has a market cap of $292.49 million, a price-to-earnings ratio of -1.09 and a beta of 1.86. The company’s fifty day moving average is $2.84 and its 200 day moving average is $3.40.

Hedge Funds Weigh In On Prime Medicine

Several institutional investors have recently made changes to their positions in PRME. Vestal Point Capital LP raised its holdings in shares of Prime Medicine by 137.8% during the third 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. Westwood Holdings Group Inc. raised its holdings in shares of Prime Medicine by 96.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company’s stock valued at $2,579,000 after purchasing an additional 433,653 shares during the period. Walleye Capital LLC raised its holdings in shares of Prime Medicine by 272.5% during the fourth quarter. Walleye Capital LLC now owns 403,739 shares of the company’s stock valued at $1,179,000 after purchasing an additional 295,365 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Prime Medicine by 4.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,977,828 shares of the company’s stock valued at $11,616,000 after purchasing an additional 170,541 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Prime Medicine during the fourth quarter valued at about $423,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

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.