Prime Medicine’s (PRME) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Prime Medicine (NYSE:PRME) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $10.00 price objective on the stock.

A number of other research firms also recently weighed in on PRME. Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research report on Friday, February 28th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Prime Medicine in a research report on Monday. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Finally, JMP Securities assumed 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. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $13.13.

Prime Medicine Trading Up 5.0 %

Prime Medicine stock opened at $2.31 on Monday. The company has a market cap of $302.98 million, a P/E ratio of -1.13 and a beta of 1.86. Prime Medicine has a 1-year low of $2.12 and a 1-year high of $8.58. The company has a fifty day simple moving average of $2.82 and a 200 day simple moving average of $3.38.

Institutional Trading of Prime Medicine

A number of hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of Prime Medicine by 4.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,977,828 shares of the company’s stock worth $11,616,000 after buying an additional 170,541 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Prime Medicine by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,584,476 shares of the company’s stock worth $4,628,000 after purchasing an additional 38,515 shares in the last quarter. Geode Capital Management LLC raised its stake in Prime Medicine by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 1,467,606 shares of the company’s stock worth $4,287,000 after purchasing an additional 107,627 shares in the last quarter. State Street Corp raised its stake in Prime Medicine by 3.9% in the 3rd quarter. State Street Corp now owns 1,146,949 shares of the company’s stock worth $4,439,000 after purchasing an additional 43,086 shares in the last quarter. Finally, Vestal Point Capital LP raised its stake in Prime Medicine by 137.8% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

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.