Peak6 LLC Invests $88,000 in Prime Medicine, Inc. (NYSE:PRME)

Peak6 LLC purchased a new position in Prime Medicine, Inc. (NYSE:PRME) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,013 shares of the company’s stock, valued at approximately $88,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRME. Geode Capital Management LLC boosted its holdings in Prime Medicine by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 1,467,606 shares of the company’s stock valued at $4,287,000 after purchasing an additional 107,627 shares in the last quarter. State Street Corp lifted its position in shares of Prime Medicine by 3.9% during the 3rd quarter. State Street Corp now owns 1,146,949 shares of the company’s stock worth $4,439,000 after buying an additional 43,086 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Prime Medicine by 5.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 774,001 shares of the company’s stock valued at $2,260,000 after buying an additional 41,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Prime Medicine by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,591 shares of the company’s stock valued at $1,415,000 after buying an additional 20,614 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Prime Medicine by 272.5% during the 4th quarter. Walleye Capital LLC now owns 403,739 shares of the company’s stock worth $1,179,000 after acquiring an additional 295,365 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Prime Medicine Price Performance

NYSE:PRME opened at $1.69 on Wednesday. The firm has a market cap of $221.66 million, a price-to-earnings ratio of -0.82 and a beta of 1.88. The firm’s fifty day moving average price is $1.96 and its 200 day moving average price is $2.82. Prime Medicine, Inc. has a 1-year low of $1.12 and a 1-year high of $8.27.

Prime Medicine (NYSE:PRME) last issued its earnings results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same quarter last year, the firm earned ($2.18) EPS. As a group, analysts expect that Prime Medicine, Inc. will post -1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRME has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a report on Wednesday, March 19th. Chardan Capital raised their price target on Prime Medicine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wedbush restated an “outperform” rating and set 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, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Prime Medicine currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Prime Medicine 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.