HC Wainwright Reaffirms "Buy" Rating for Prime Medicine (NYSE:PRME)

HC Wainwright reissued their buy rating on shares of Prime Medicine (NYSE:PRME - Free Report) in a research note issued to investors on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright also issued estimates for Prime Medicine's Q1 2025 earnings at ($0.35) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.30) EPS, FY2025 earnings at ($1.28) EPS, FY2026 earnings at ($1.33) EPS, FY2027 earnings at ($1.33) EPS, FY2028 earnings at ($1.12) EPS and FY2029 earnings at ($0.75) EPS.

A number of other research analysts have also recently issued reports on PRME. Wedbush reiterated an "outperform" rating and issued a $12.00 target price on shares of Prime Medicine in a research note on Friday, February 28th. Chardan Capital reiterated a "buy" rating and issued a $15.00 price objective on shares of Prime Medicine in a research report on Monday. JMP Securities started coverage on Prime Medicine in a report on Tuesday, December 10th. They set an "outperform" rating and a $10.00 target price on the stock. StockNews.com raised Prime Medicine to a "sell" rating in a report on Tuesday, February 11th. Finally, Guggenheim reissued a "buy" rating and set a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. One research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.13.

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Prime Medicine Trading Down 0.4 %

Shares of Prime Medicine stock traded down $0.01 during mid-day trading on Monday, reaching $2.30. 1,225,802 shares of the stock were exchanged, compared to its average volume of 1,003,933. The company has a market cap of $301.67 million, a price-to-earnings ratio of -1.12 and a beta of 1.86. Prime Medicine has a fifty-two week low of $2.12 and a fifty-two week high of $8.58. The firm has a 50-day simple moving average of $2.82 and a 200 day simple moving average of $3.38.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRME. ProShare Advisors LLC raised its holdings in Prime Medicine by 24.6% during the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company's stock worth $65,000 after acquiring an additional 4,375 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Prime Medicine by 20.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company's stock worth $81,000 after purchasing an additional 4,725 shares in the last quarter. Levin Capital Strategies L.P. boosted its holdings in shares of Prime Medicine by 7.1% in the 4th quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company's stock valued at $219,000 after buying an additional 5,000 shares during the last quarter. PEAK6 Investments LLC grew its stake in shares of Prime Medicine by 32.4% in the third quarter. PEAK6 Investments LLC now owns 45,013 shares of the company's stock valued at $174,000 after buying an additional 11,013 shares in the last quarter. Finally, American Century Companies Inc. acquired a new position in Prime Medicine during the fourth quarter worth $33,000. 70.37% of the stock is currently owned by 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.