Prime Medicine, Inc. (NYSE:PRME) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Prime Medicine, Inc. (NYSE:PRME - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.11.

A number of equities analysts have recently commented on the stock. 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. StockNews.com raised shares of Prime Medicine to a "sell" rating in a research report on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of Prime Medicine in a research report on Friday, August 9th.

Hedge Funds Weigh In On Prime Medicine

Hedge funds and other institutional investors have recently modified their holdings of the business. Bollard Group LLC purchased a new position in shares of Prime Medicine in the fourth quarter worth $3,200,000. Westwood Holdings Group Inc. acquired a new stake in Prime Medicine during the first quarter worth $1,115,000. Vanguard Group Inc. raised its stake in shares of Prime Medicine by 43.1% in the 1st 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 increased its stake in Prime Medicine by 13.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company's stock worth $17,660,000 after purchasing an additional 301,431 shares during the period. Finally, Chelsea Counsel Co. increased its position in shares of Prime Medicine by 733.3% during the fourth quarter. Chelsea Counsel Co. now owns 5,000 shares of the company's stock worth $44,000 after acquiring an additional 4,400 shares during the period. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Stock Down 2.5 %

Prime Medicine stock traded down $0.09 during midday trading on Friday, reaching $3.47. The stock had a trading volume of 151,754 shares, compared to its average volume of 748,601. The firm has a market cap of $416.51 million, a price-to-earnings ratio of -1.66 and a beta of 2.18. The company has a fifty day moving average of $4.43 and a 200 day moving average of $5.58. Prime Medicine has a 52-week low of $3.39 and a 52-week high of $9.86.

Prime Medicine (NYSE:PRME - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.06). Equities research analysts predict that Prime Medicine will post -1.76 EPS for the current year.

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.