Prime Medicine (NYSE:PRME) Stock Rating Upgraded by StockNews.com

Prime Medicine (NYSE:PRME) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Tuesday.

PRME has been the topic of a number of other reports. Chardan Capital decreased their target price on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities assumed coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target on the stock. Guggenheim restated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a research note on Tuesday, December 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research note on Wednesday, November 13th. Finally, Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.13.

Prime Medicine Trading Up 11.8 %

Prime Medicine stock opened at $2.55 on Tuesday. The company’s 50-day moving average price is $2.91 and its two-hundred day moving average price is $3.60. The stock has a market cap of $334.46 million, a price-to-earnings ratio of -1.24 and a beta of 1.86. Prime Medicine has a 52 week low of $2.25 and a 52 week high of $9.77.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The firm had revenue of $0.21 million during the quarter, compared to the consensus estimate of $55.00 million. Research analysts expect that Prime Medicine will post -1.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in Prime Medicine in the 2nd quarter valued at $176,000. SG Americas Securities LLC bought a new stake in shares of Prime Medicine in the 3rd quarter valued at approximately $182,000. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Prime Medicine by 48.6% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 28,113 shares of the company’s stock worth $109,000 after buying an additional 9,199 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Prime Medicine by 63.7% in 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 in the last quarter. Finally, Greenwich Wealth Management LLC grew its position in Prime Medicine by 12.3% in the third quarter. Greenwich Wealth Management LLC now owns 733,001 shares of the company’s stock valued at $2,837,000 after acquiring an additional 80,000 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

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.