Prime Medicine, Inc. (NYSE:PRME) Given Consensus Rating of “Buy” by Analysts

Prime Medicine, Inc. (NYSE:PRME) has received a consensus rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.13.

PRME has been the subject of a number of recent analyst reports. Chardan Capital dropped their price objective on Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a report on Wednesday, November 13th. Citizens Jmp upgraded Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Wedbush restated an “outperform” rating and issued a $12.00 price target on shares of Prime Medicine in a report on Friday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. bought a new position in shares of Prime Medicine during the fourth quarter worth about $33,000. Paloma Partners Management Co bought a new position in shares of Prime Medicine during the third quarter worth about $45,000. Nisa Investment Advisors LLC grew its holdings in shares of Prime Medicine by 11,474.3% during 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 acquired a new position in Prime Medicine during the third quarter valued at approximately $55,000. Finally, XTX Topco Ltd acquired a new position in Prime Medicine during the fourth quarter valued at approximately $42,000. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Trading Up 4.1 %

NYSE PRME opened at $2.52 on Monday. The stock has a 50-day simple moving average of $2.85 and a 200 day simple moving average of $3.43. The company has a market capitalization of $330.53 million, a PE ratio of -1.23 and a beta of 1.86. Prime Medicine has a 12 month low of $2.25 and a 12 month high of $9.62.

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.