Prime Medicine, Inc. (NYSE:PRME) Major Shareholder David R. Liu Acquires 21,000 Shares

Prime Medicine, Inc. (NYSE:PRME) major shareholder David R. Liu bought 21,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were purchased at an average cost of $2.16 per share, for a total transaction of $45,360.00. Following the completion of the transaction, the insider now directly owns 20,219,945 shares of the company’s stock, valued at $43,675,081.20. This trade represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Prime Medicine Price Performance

PRME opened at $2.42 on Thursday. Prime Medicine, Inc. has a fifty-two week low of $1.11 and a fifty-two week high of $6.75. The firm has a market capitalization of $317.73 million, a P/E ratio of -1.18 and a beta of 1.55. The company’s 50-day moving average is $1.51 and its 200 day moving average is $2.13.

Analysts Set New Price Targets

Several analysts recently issued reports on PRME shares. HC Wainwright downgraded shares of Prime Medicine from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 20th. JMP Securities reduced their price objective on shares of Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating for the company in a report on Tuesday, May 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Prime Medicine in a report on Tuesday, May 20th. Chardan Capital dropped their price target on shares of Prime Medicine from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price objective (up from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.08.

Hedge Funds Weigh In On Prime Medicine

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. bought a new position in shares of Prime Medicine in the fourth quarter valued at approximately $33,000. XTX Topco Ltd purchased a new position in Prime Medicine in the fourth quarter worth $42,000. AXQ Capital LP bought a new position in Prime Medicine in the 4th quarter valued at $45,000. Balyasny Asset Management L.P. purchased a new stake in shares of Prime Medicine during the 4th quarter valued at $48,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Prime Medicine during the 4th quarter worth $59,000. 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.