Samsara BioCapital LLC Lowers Stake in Prime Medicine, Inc. (NYSE:PRME)

Samsara BioCapital LLC lowered its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 25.0% during the 4th quarter, HoldingsChannel reports. The fund owned 405,228 shares of the company’s stock after selling 135,076 shares during the period. Samsara BioCapital LLC’s holdings in Prime Medicine were worth $1,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRME. American Century Companies Inc. bought a new position in Prime Medicine in the 4th quarter worth about $33,000. Nisa Investment Advisors LLC lifted its stake in shares of Prime Medicine by 11,474.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock worth $37,000 after buying an additional 12,507 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Prime Medicine during the fourth quarter valued at approximately $42,000. AXQ Capital LP purchased a new position in Prime Medicine in the 4th quarter worth approximately $45,000. Finally, Impact Partnership Wealth LLC purchased a new position in Prime Medicine in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Trading Down 3.6 %

Shares of PRME stock opened at $1.60 on Wednesday. Prime Medicine, Inc. has a 12 month low of $1.12 and a 12 month high of $8.27. The stock has a market cap of $209.86 million, a P/E ratio of -0.78 and a beta of 1.88. The company has a 50 day simple moving average of $1.83 and a two-hundred day simple moving average of $2.75.

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Chardan Capital lifted their target price on Prime Medicine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a report on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $13.00 target price (up previously from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.38.

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.