Greenwich Wealth Management LLC Boosts Stock Holdings in Prime Medicine, Inc. (NYSE:PRME)

Greenwich Wealth Management LLC increased its position in shares of Prime Medicine, Inc. (NYSE:PRME) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 774,001 shares of the company’s stock after purchasing an additional 41,000 shares during the period. Greenwich Wealth Management LLC’s holdings in Prime Medicine were worth $2,260,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Prime Medicine by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,359,979 shares of the company’s stock worth $5,264,000 after purchasing an additional 63,456 shares in the last quarter. State Street Corp grew its position in Prime Medicine by 3.9% during the third quarter. State Street Corp now owns 1,146,949 shares of the company’s stock worth $4,439,000 after buying an additional 43,086 shares during the period. Vestal Point Capital LP grew its position in Prime Medicine by 137.8% during the third quarter. Vestal Point Capital LP now owns 1,070,000 shares of the company’s stock worth $4,141,000 after buying an additional 620,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in Prime Medicine by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,591 shares of the company’s stock worth $1,415,000 after buying an additional 20,614 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in Prime Medicine by 23.8% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 111,465 shares of the company’s stock worth $325,000 after buying an additional 21,429 shares during the period. 70.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JMP Securities assumed coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price on the stock. Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a research report on Friday, February 28th. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Prime Medicine has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Prime Medicine Stock Performance

PRME stock opened at $1.79 on Friday. The stock has a market capitalization of $234.78 million, a P/E ratio of -0.87 and a beta of 1.85. Prime Medicine, Inc. has a one year low of $1.71 and a one year high of $8.27. The company has a 50 day moving average price of $2.68 and a two-hundred day moving average price of $3.27.

Prime Medicine (NYSE:PRME) last released its earnings results on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same period in the previous year, the firm earned ($2.18) EPS. Research analysts forecast that Prime Medicine, Inc. will post -1.68 earnings per share for the current fiscal year.

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.