Barclays PLC Buys 65,593 Shares of Prime Medicine, Inc. (NYSE:PRME)

Barclays PLC lifted its stake in Prime Medicine, Inc. (NYSE:PRME) by 343.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,697 shares of the company’s stock after buying an additional 65,593 shares during the quarter. Barclays PLC’s holdings in Prime Medicine were worth $328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRME. Squarepoint Ops LLC raised its stake in Prime Medicine by 6.5% during the 2nd quarter. Squarepoint Ops LLC now owns 63,461 shares of the company’s stock worth $326,000 after acquiring an additional 3,895 shares during the period. National Bank of Canada FI purchased a new stake in shares of Prime Medicine in the second quarter worth $34,000. China Universal Asset Management Co. Ltd. raised its position 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 period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Prime Medicine by 48.6% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 28,113 shares of the company’s stock valued at $109,000 after buying an additional 9,199 shares in the last quarter. Finally, PEAK6 Investments LLC boosted its holdings in Prime Medicine by 32.4% in the 3rd quarter. PEAK6 Investments LLC now owns 45,013 shares of the company’s stock worth $174,000 after buying an additional 11,013 shares during the period. 70.37% of the stock is owned by hedge funds and other institutional investors.

Prime Medicine Stock Up 12.0 %

PRME stock opened at $3.35 on Friday. Prime Medicine, Inc. has a 52 week low of $2.56 and a 52 week high of $9.77. The firm has a market capitalization of $439.39 million, a P/E ratio of -1.63 and a beta of 1.86. The company has a fifty day simple moving average of $3.35 and a two-hundred day simple moving average of $4.16.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.44) 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 analysts’ expectations of $55.00 million. As a group, analysts anticipate that Prime Medicine, Inc. will post -1.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PRME shares. Chardan Capital lowered their price objective on Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a report on Wednesday, November 13th. JMP Securities initiated coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price objective for the company. Guggenheim reiterated a “buy” rating and set a $18.00 price objective on shares of Prime Medicine in a research report on Tuesday, December 3rd. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, December 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Prime Medicine presently has a consensus rating of “Moderate Buy” and an average price target 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.