Prime Medicine (NYSE:PRME) Upgraded at StockNews.com

Prime Medicine (NYSE:PRME) was upgraded by equities researchers at StockNews.com to a “sell” rating in a report released on Thursday.

Several other equities research analysts have also recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a research report on Thursday, August 8th. Finally, Chardan Capital dropped their price target on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Prime Medicine has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Prime Medicine Stock Down 9.2 %

PRME stock traded down $0.36 during trading on Thursday, reaching $3.60. 1,372,519 shares of the company’s stock were exchanged, compared to its average volume of 980,899. Prime Medicine has a 1-year low of $3.28 and a 1-year high of $9.86. The firm has a market cap of $431.51 million, a PE ratio of -1.75 and a beta of 2.09. The company’s fifty day moving average price is $3.88 and its 200-day moving average price is $5.03.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. bought a new position in shares of Prime Medicine in the first quarter valued at approximately $1,115,000. Vanguard Group Inc. boosted its holdings in Prime Medicine by 43.1% during the first quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock valued at $40,610,000 after acquiring an additional 1,746,534 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Prime Medicine by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock valued at $17,660,000 after purchasing an additional 301,431 shares during the last quarter. Millennium Management LLC increased its stake in shares of Prime Medicine by 205.7% in the second quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock worth $6,841,000 after purchasing an additional 895,610 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Prime Medicine during the 1st quarter worth about $148,000. Institutional investors and hedge funds 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.