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

HC Wainwright reiterated their buy rating on shares of Prime Medicine (NYSE:PRME - Free Report) in a report issued on Wednesday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Several other equities analysts have also commented on the stock. Citizens Jmp raised shares of Prime Medicine to a "strong-buy" rating in a report on Tuesday, December 10th. JMP Securities started coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They issued an "outperform" rating and a $10.00 price target on the stock. Guggenheim reissued a "buy" rating and issued a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. StockNews.com raised shares of Prime Medicine to a "sell" rating in a research report on Tuesday, February 11th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price (up from $12.00) on shares of Prime Medicine in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.38.

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Prime Medicine Trading Down 3.0 %

Shares of PRME stock traded down $0.06 during trading on Wednesday, reaching $1.95. 1,329,340 shares of the company's stock traded hands, compared to its average volume of 1,116,465. The company has a market capitalization of $255.76 million, a P/E ratio of -0.95 and a beta of 1.85. The firm's 50-day moving average is $2.56 and its 200 day moving average is $3.18. Prime Medicine has a 1 year low of $1.65 and a 1 year high of $8.27.

Prime Medicine (NYSE:PRME - Get Free Report) last posted its earnings results on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same period last year, the firm posted ($2.18) EPS. As a group, sell-side analysts predict that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prime Medicine

Hedge funds have recently bought and sold shares of the business. American Century Companies Inc. bought a new position in shares of Prime Medicine in the fourth quarter worth approximately $33,000. Paloma Partners Management Co bought a new position in shares of Prime Medicine in the third quarter worth approximately $45,000. Nisa Investment Advisors LLC lifted its stake in shares of Prime Medicine by 11,474.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company's stock worth $37,000 after buying an additional 12,507 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Prime Medicine in the third quarter worth approximately $55,000. Finally, XTX Topco Ltd bought a new position in shares of Prime Medicine in the fourth quarter worth approximately $42,000. Institutional investors own 70.37% of the company's stock.

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.