Prime Medicine (NYSE:PRME) Earns “Buy” Rating from HC Wainwright

Prime Medicine (NYSE:PRME)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 397.51% from the company’s current price.

A number of other analysts have also weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $13.00 target price (up previously from $12.00) on shares of Prime Medicine in a research note on Tuesday. Guggenheim reiterated a “buy” rating and set a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a research report on Monday, March 3rd. Finally, Citizens Jmp upgraded Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.38.

Prime Medicine Trading Up 0.5 %

Shares of PRME opened at $2.01 on Wednesday. The company’s fifty day simple moving average is $2.58 and its 200-day simple moving average is $3.21. The company has a market cap of $263.63 million, a P/E ratio of -0.98 and a beta of 1.85. Prime Medicine has a twelve month low of $1.65 and a twelve month high of $8.27.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same period last year, the company earned ($2.18) EPS. Analysts predict that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Trading of Prime Medicine

A number of hedge funds have recently bought and sold shares of the stock. Chelsea Counsel Co. increased its holdings in shares of Prime Medicine by 137.4% in the 4th quarter. Chelsea Counsel Co. now owns 186,780 shares of the company’s stock valued at $545,000 after acquiring an additional 108,090 shares during the period. Westwood Holdings Group Inc. grew its stake in Prime Medicine by 96.5% in 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 last quarter. Sherbrooke Park Advisers LLC bought a new position in Prime Medicine in the fourth quarter worth about $60,000. Point72 Asset Management L.P. bought a new position in Prime Medicine in the fourth quarter worth about $200,000. Finally, ProShare Advisors LLC lifted its position in shares of Prime Medicine by 24.6% during the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company’s stock valued at $65,000 after buying an additional 4,375 shares during the last quarter. Hedge funds and other institutional investors 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.