Charles Schwab Investment Management Inc. Acquires 20,614 Shares of Prime Medicine, Inc. (NYSE:PRME)

Charles Schwab Investment Management Inc. raised its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 484,591 shares of the company’s stock after purchasing an additional 20,614 shares during the period. Charles Schwab Investment Management Inc. owned 0.37% of Prime Medicine worth $1,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Paloma Partners Management Co purchased a new position in shares of Prime Medicine in the 3rd quarter worth about $45,000. Nisa Investment Advisors LLC increased its stake in Prime Medicine by 11,474.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after purchasing an additional 12,507 shares in the last quarter. Intech Investment Management LLC purchased a new position in Prime Medicine in the third quarter worth about $55,000. Impact Partnership Wealth LLC bought a new position in shares of Prime Medicine in the fourth quarter worth approximately $50,000. Finally, Avanza Fonder AB purchased a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $66,000. Institutional investors own 70.37% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRME. Chardan Capital boosted their price objective on shares of Prime Medicine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a research note on Wednesday, March 19th. StockNews.com raised Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Guggenheim reiterated a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, JMP Securities initiated coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price on the stock. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Prime Medicine Stock Performance

Shares of NYSE:PRME opened at $1.99 on Friday. The stock’s 50-day simple moving average is $2.47 and its two-hundred day simple moving average is $3.12. The stock has a market capitalization of $261.01 million, a price-to-earnings ratio of -0.97 and a beta of 1.85. Prime Medicine, Inc. has a 52-week low of $1.65 and a 52-week high of $8.27.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same period in the previous year, the company posted ($2.18) EPS. As a group, equities analysts forecast that Prime Medicine, Inc. will post -1.68 earnings per share 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.