Prime Medicine, Inc. (NYSE:PRME - Get Free Report) shares shot up 15% during mid-day trading on Friday . The stock traded as high as $4.38 and last traded at $4.37. 1,078,903 shares traded hands during trading, an increase of 11% from the average session volume of 972,238 shares. The stock had previously closed at $3.80.
Analyst Ratings Changes
A number of brokerages have issued reports on PRME. HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of Prime Medicine in a research note on Wednesday, October 2nd. Wedbush reiterated an "outperform" rating and set a $12.00 target price on shares of Prime Medicine in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of Prime Medicine to a "sell" rating in a research note on Wednesday, August 7th. 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.
Read Our Latest Stock Report on Prime Medicine
Prime Medicine Trading Up 15.3 %
The stock has a fifty day simple moving average of $3.92 and a 200-day simple moving average of $5.20. The company has a market capitalization of $525.73 million, a PE ratio of -2.01 and a beta of 2.18.
Prime Medicine (NYSE:PRME - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.06). As a group, equities research analysts predict that Prime Medicine, Inc. will post -1.75 EPS for the current year.
Institutional Trading of Prime Medicine
A number of large investors have recently made changes to their positions in the company. ORG Partners LLC purchased a new position in Prime Medicine during the 2nd quarter worth $29,000. National Bank of Canada FI purchased a new stake in Prime Medicine during the 2nd quarter valued at approximately $34,000. Nisa Investment Advisors LLC raised its stake in 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 acquiring an additional 7,702 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Prime Medicine during the 2nd quarter worth approximately $97,000. Finally, ProShare Advisors LLC grew its stake in shares of Prime Medicine by 19.8% in the 1st quarter. ProShare Advisors LLC now owns 15,276 shares of the company's stock valued at $107,000 after purchasing an additional 2,520 shares during the last quarter. 70.37% of the stock is owned by institutional investors and hedge funds.
About Prime Medicine
(
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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