Prime Medicine, Inc. (NYSE:PRME) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its stake in Prime Medicine, Inc. (NYSE:PRME) by 32.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,106 shares of the company’s stock after selling 5,765 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prime Medicine were worth $35,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in 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 purchasing an additional 12,507 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Prime Medicine during the 3rd quarter worth $45,000. Impact Partnership Wealth LLC purchased a new stake in shares of Prime Medicine in the 4th quarter worth about $50,000. Intech Investment Management LLC purchased a new stake in shares of Prime Medicine in the 3rd quarter worth about $55,000. Finally, Avanza Fonder AB acquired a new stake in Prime Medicine in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PRME shares. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a report on Monday, March 3rd. StockNews.com raised Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Prime Medicine in a research report on Friday, February 28th. Guggenheim reissued a “buy” rating and issued a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, JMP Securities began coverage on Prime Medicine in a research note on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Stock Up 4.3 %

Shares of NYSE:PRME opened at $2.40 on Monday. The company has a market cap of $314.79 million, a P/E ratio of -1.17 and a beta of 1.85. The business has a fifty day simple moving average of $2.80 and a 200-day simple moving average of $3.35. Prime Medicine, Inc. has a 52 week low of $2.12 and a 52 week high of $8.58.

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

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.