Prime Medicine’s (PRME) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Prime Medicine (NYSE:PRME) in a report published on Tuesday,RTT News reports. The firm currently has a $13.00 price target on the stock, up from their previous price target of $12.00.

Several other research firms also recently weighed in on PRME. Guggenheim reiterated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a research note on Tuesday, December 3rd. JMP Securities began coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 target price for the company. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research note on Monday, March 3rd. Finally, Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Prime Medicine Stock Up 0.5 %

PRME opened at $2.01 on Tuesday. Prime Medicine has a twelve month low of $1.65 and a twelve month high of $8.27. The company’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $3.21. The stock has a market cap of $263.63 million, a price-to-earnings ratio of -0.98 and a beta of 1.85.

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 quarter last year, the firm posted ($2.18) earnings per share. As a group, sell-side analysts anticipate that Prime Medicine will post -1.68 earnings per share for the current year.

Institutional Investors Weigh In On Prime Medicine

Institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. purchased a new stake in Prime Medicine in the fourth quarter valued at approximately $33,000. Nisa Investment Advisors LLC raised its position in shares of 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 buying an additional 12,507 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Prime Medicine during the 4th quarter worth $42,000. Paloma Partners Management Co bought a new stake in shares of Prime Medicine during the 3rd quarter worth $45,000. Finally, AXQ Capital LP purchased a new position in Prime Medicine in the fourth quarter worth $45,000. Hedge funds and other institutional investors 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.