Prime Medicine (NYSE:PRME – Free Report) had its price target cut by Chardan Capital from $17.00 to $15.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
Other research analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Prime Medicine in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Prime Medicine presently has an average rating of “Moderate Buy” and a consensus target price of $13.25.
Read Our Latest Analysis on Prime Medicine
Prime Medicine Price Performance
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in PRME. ARK Investment Management LLC grew its stake in Prime Medicine by 2.2% in the second quarter. ARK Investment Management LLC now owns 6,126,773 shares of the company’s stock worth $31,492,000 after purchasing an additional 133,419 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Prime Medicine by 43.1% during the 1st quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock valued at $40,610,000 after buying an additional 1,746,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Prime Medicine by 13.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock worth $17,660,000 after buying an additional 301,431 shares during the period. Redmile Group LLC increased its stake in shares of Prime Medicine by 56.6% in the 1st quarter. Redmile Group LLC now owns 2,074,350 shares of the company’s stock worth $14,520,000 after acquiring an additional 750,000 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Prime Medicine by 205.7% during the 2nd quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock valued at $6,841,000 after acquiring an additional 895,610 shares during the period. 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.
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