Prime Medicine’s (PRME) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Prime Medicine (NYSE:PRME) in a research note issued to investors on Friday,RTT News reports. The firm currently has a $12.00 price target on the stock.

A number of other equities analysts have also recently weighed in on PRME. Citizens Jmp upgraded Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. JMP Securities began coverage on Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price target for the company. Chardan Capital lowered their price target on Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Guggenheim reiterated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

Prime Medicine Stock Up 4.1 %

Shares of NYSE:PRME opened at $2.52 on Friday. The business has a fifty day moving average of $2.85 and a two-hundred day moving average of $3.43. The stock has a market cap of $330.53 million, a P/E ratio of -1.23 and a beta of 1.86. Prime Medicine has a 52-week low of $2.25 and a 52-week high of $9.62.

Hedge Funds Weigh In On Prime Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of PRME. American Century Companies Inc. purchased a new position in Prime Medicine during the 4th quarter valued at about $33,000. Nisa Investment Advisors LLC raised its position in Prime Medicine by 11,474.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after purchasing an additional 12,507 shares in the last quarter. XTX Topco Ltd acquired a new stake in Prime Medicine in the 4th quarter valued at about $42,000. Paloma Partners Management Co acquired a new stake in Prime Medicine in the 3rd quarter valued at about $45,000. Finally, AXQ Capital LP acquired a new stake in Prime Medicine in the 4th quarter valued at about $45,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

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.