Benjamin Edwards Inc. Has $90,000 Position in Prime Medicine, Inc. (NYSE:PRME)

Benjamin Edwards Inc. increased its position in shares of Prime Medicine, Inc. (NYSE:PRME) by 12,371.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,196 shares of the company’s stock after purchasing an additional 23,010 shares during the quarter. Benjamin Edwards Inc.’s holdings in Prime Medicine were worth $90,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC raised its position in shares of Prime Medicine by 6.5% in the 2nd quarter. Squarepoint Ops LLC now owns 63,461 shares of the company’s stock valued at $326,000 after buying an additional 3,895 shares in the last quarter. ORG Partners LLC acquired a new position in Prime Medicine during the second quarter worth about $29,000. National Bank of Canada FI bought a new position in shares of Prime Medicine in the second quarter worth about $34,000. Nisa Investment Advisors LLC boosted its stake in shares of Prime Medicine by 22,652.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock valued at $40,000 after purchasing an additional 7,702 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Prime Medicine by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,086 shares of the company’s stock valued at $89,000 after purchasing an additional 8,985 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Price Performance

PRME stock opened at $3.22 on Wednesday. The business has a 50 day moving average of $3.69 and a 200-day moving average of $4.65. Prime Medicine, Inc. has a 12-month low of $2.85 and a 12-month high of $9.86. The firm has a market cap of $422.34 million, a PE ratio of -1.57 and a beta of 1.89.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $55.00 million. On average, research analysts expect that Prime Medicine, Inc. will post -1.7 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRME. Guggenheim reiterated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a research report on Wednesday, November 13th. StockNews.com raised Prime Medicine to a “sell” rating in a research note on Thursday, November 14th. Chardan Capital reduced their price target on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Finally, JMP Securities assumed coverage on Prime Medicine in a report on Tuesday. They set an “outperform” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.67.

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.