Prime Medicine (NYSE:PRME) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Prime Medicine (NYSE:PRME - Free Report) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $10.00 price objective on the stock.

A number of other analysts have also recently weighed in on PRME. StockNews.com upgraded Prime Medicine to a "sell" rating in a research report on Wednesday, August 7th. 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $13.50.

Prime Medicine Stock Down 4.0 %

Shares of PRME traded down $0.17 during trading on Friday, reaching $4.03. The company's stock had a trading volume of 718,838 shares, compared to its average volume of 980,050. The company has a market cap of $483.72 million, a price-to-earnings ratio of -1.87 and a beta of 2.18. The company has a fifty day moving average of $3.93 and a two-hundred day moving average of $5.12. Prime Medicine has a twelve month low of $3.28 and a twelve month high of $9.86.

Prime Medicine (NYSE:PRME - Get Free Report) last posted its quarterly 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). As a group, equities analysts forecast that Prime Medicine will post -1.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Prime Medicine

A number of institutional investors have recently bought and sold shares of PRME. ORG Partners LLC acquired a new stake in Prime Medicine during the 2nd quarter valued at $29,000. National Bank of Canada FI purchased a new position in Prime Medicine in the second quarter valued at about $34,000. Nisa Investment Advisors LLC raised 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 worth $40,000 after purchasing an additional 7,702 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prime Medicine by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,086 shares of the company's stock valued at $89,000 after buying an additional 8,985 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Prime Medicine in the 2nd quarter valued at approximately $97,000. Hedge funds and other institutional investors own 70.37% of the company's stock.

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.