Jane Street Group LLC Trims Stock Position in Prime Medicine, Inc. (NYSE:PRME)

Jane Street Group LLC trimmed its stake in Prime Medicine, Inc. (NYSE:PRME) by 65.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,548 shares of the company’s stock after selling 110,869 shares during the period. Jane Street Group LLC’s holdings in Prime Medicine were worth $223,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp lifted 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 buying an additional 43,086 shares during the period. Benjamin Edwards Inc. raised its position in shares of Prime Medicine by 12,371.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 23,196 shares of the company’s stock worth $90,000 after acquiring an additional 23,010 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Prime Medicine in the 3rd quarter valued at approximately $45,000. Verition Fund Management LLC bought a new stake in shares of Prime Medicine during the third quarter valued at approximately $149,000. Finally, Vestal Point Capital LP grew its stake in Prime Medicine by 137.8% in the third quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock worth $4,141,000 after purchasing an additional 620,000 shares during the period. Institutional investors own 70.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRME. JMP Securities assumed coverage on Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a research report on Wednesday, November 13th. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a report on Monday, January 6th. Guggenheim reiterated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prime Medicine has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Prime Medicine Stock Down 6.7 %

NYSE PRME opened at $2.94 on Monday. The stock’s 50-day moving average price is $3.26 and its 200-day moving average price is $4.03. The company has a market capitalization of $385.61 million, a P/E ratio of -1.43 and a beta of 1.86. Prime Medicine, Inc. has a 52 week low of $2.56 and a 52 week high of $9.77.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $55.00 million. Research analysts anticipate that Prime Medicine, Inc. will post -1.7 EPS for the current year.

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.