Prime Medicine, Inc. (NASDAQ:PRME) Receives $7.38 Average PT from Analysts

Prime Medicine, Inc. (NASDAQ:PRME) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $7.3750.

A number of research analysts recently issued reports on the company. Lifesci Capital upgraded Prime Medicine to a “strong-buy” rating in a research report on Monday, March 2nd. Wall Street Zen lowered Prime Medicine from a “sell” rating to a “strong sell” rating in a research report on Monday, April 27th. Finally, Oppenheimer started coverage on Prime Medicine in a research note on Thursday, March 12th. They issued an “outperform” rating and a $11.00 target price on the stock.

Institutional Trading of Prime Medicine

Several hedge funds have recently bought and sold shares of the company. Creative Planning bought a new position in Prime Medicine in the 2nd quarter worth about $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $33,000. Glen Eagle Advisors LLC acquired a new position in shares of Prime Medicine during the fourth quarter worth approximately $35,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Prime Medicine by 1,316.4% during the third quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company’s stock worth $38,000 after buying an additional 6,345 shares during the period. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Stock Down 3.9%

Shares of PRME stock opened at $3.41 on Friday. The company has a market cap of $615.91 million, a P/E ratio of -2.53 and a beta of 2.35. The business has a 50 day moving average of $3.72 and a two-hundred day moving average of $3.93. Prime Medicine has a 52 week low of $1.11 and a 52 week high of $6.94.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.