Prime Medicine’s (PRME) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Prime Medicine (NYSE:PRME) in a research report sent to investors on Wednesday,Benzinga reports. HC Wainwright currently has a $10.00 price target on the stock.

A number of other equities analysts have also recently issued reports on PRME. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Prime Medicine in a research report on Monday, March 3rd. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.25.

Prime Medicine Trading Up 13.6 %

PRME stock opened at $2.00 on Wednesday. The firm’s 50-day moving average price is $2.60 and its two-hundred day moving average price is $3.22. Prime Medicine has a 12-month low of $1.65 and a 12-month high of $8.27. The stock has a market capitalization of $262.32 million, a price-to-earnings ratio of -0.98 and a beta of 1.85.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter in the previous year, the firm posted ($2.18) EPS. Equities analysts predict that Prime Medicine will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Prime Medicine

Several hedge funds have recently bought and sold shares of PRME. American Century Companies Inc. bought a new stake in Prime Medicine during the fourth quarter worth about $33,000. Nisa Investment Advisors LLC lifted its stake in shares of Prime Medicine by 11,474.3% in 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. XTX Topco Ltd bought a new position in shares of Prime Medicine in the fourth quarter worth approximately $42,000. Paloma Partners Management Co bought a new position in shares of Prime Medicine in the third quarter worth approximately $45,000. Finally, AXQ Capital LP bought a new position in shares of Prime Medicine in the fourth quarter worth approximately $45,000. Institutional investors own 70.37% of the company’s stock.

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.