SG Americas Securities LLC Makes New $182,000 Investment in Prime Medicine, Inc. (NYSE:PRME)

SG Americas Securities LLC purchased a new stake in shares of Prime Medicine, Inc. (NYSE:PRME) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 46,982 shares of the company’s stock, valued at approximately $182,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Prime Medicine during the first quarter worth about $148,000. ProShare Advisors LLC increased its holdings in shares of Prime Medicine by 19.8% during the 1st quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after buying an additional 2,520 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Prime Medicine by 43.1% during the 1st quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock valued at $40,610,000 after buying an additional 1,746,534 shares during the period. Westwood Holdings Group Inc. acquired a new position in Prime Medicine in the first quarter valued at approximately $1,115,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Prime Medicine by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock valued at $17,660,000 after acquiring an additional 301,431 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRME. Wedbush restated an “outperform” rating and issued a $12.00 target price on shares of Prime Medicine in a research report on Thursday, August 8th. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a report on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Prime Medicine Price Performance

Shares of NYSE:PRME opened at $3.99 on Thursday. The firm has a market capitalization of $478.92 million, a PE ratio of -1.84 and a beta of 2.18. Prime Medicine, Inc. has a 1 year low of $3.28 and a 1 year high of $9.86. The firm’s 50-day moving average is $3.93 and its two-hundred day moving average is $5.14.

Prime Medicine (NYSE:PRME) last announced its earnings results on Thursday, August 8th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.06). Analysts expect that Prime Medicine, Inc. will post -1.75 EPS 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.