Prime Medicine (NYSE:PRME) Earns “Outperform” Rating from Wedbush

Prime Medicine (NYSE:PRME)‘s stock had its “outperform” rating reiterated by Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $13.00 target price on the stock, up from their prior target price of $12.00.

Several other research analysts also recently commented on PRME. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a report on Monday, March 3rd. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. JMP Securities started coverage on shares of Prime Medicine in a report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Prime Medicine Trading Up 13.6 %

NYSE PRME opened at $2.00 on Tuesday. Prime Medicine has a 1-year low of $1.65 and a 1-year high of $8.27. The company has a 50 day moving average of $2.60 and a 200-day moving average of $3.22. The company has a market cap 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 results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same quarter in the prior year, the business posted ($2.18) EPS. On average, equities research analysts forecast that Prime Medicine will post -1.68 earnings per share for the current year.

Institutional Trading of Prime Medicine

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. bought a new stake in Prime Medicine during the fourth quarter valued at $33,000. Paloma Partners Management Co bought a new stake in Prime Medicine during the third quarter valued at $45,000. Nisa Investment Advisors LLC raised 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 valued at $37,000 after purchasing an additional 12,507 shares during the period. Intech Investment Management LLC acquired a new position in shares of Prime Medicine during the third quarter valued at about $55,000. Finally, XTX Topco Ltd acquired a new position in shares of Prime Medicine during the fourth quarter valued at about $42,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Company 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.