Prime Medicine (NYSE:PRME) Rating Increased to Sell at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Prime Medicine (NYSE:PRME – Free Report) to a sell rating in a research note published on Thursday morning.

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

Get Our Latest Analysis on PRME

Prime Medicine Stock Performance

PRME stock traded down $0.24 during mid-day trading on Thursday, reaching $3.36. 668,689 shares of the stock traded hands, compared to its average volume of 979,421. The stock has a market capitalization of $440.70 million, a PE ratio of -1.63 and a beta of 2.09. Prime Medicine has a one year low of $3.28 and a one year high of $9.86. The business has a 50-day moving average price of $3.88 and a two-hundred day moving average price of $5.02.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors have recently made changes to their positions in PRME. ORG Partners LLC acquired a new stake in shares of Prime Medicine in the 2nd quarter worth about $29,000. National Bank of Canada FI bought a new stake in Prime Medicine in the 2nd quarter worth $34,000. Nisa Investment Advisors LLC boosted its stake in shares of Prime Medicine by 22,652.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after purchasing an additional 7,702 shares in the last quarter. Paloma Partners Management Co purchased a new position in Prime Medicine in the third quarter worth about $45,000. Finally, Intech Investment Management LLC purchased a new position in shares of Prime Medicine during the third quarter valued at approximately $55,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Company Profile

(Get Free Report)

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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