American Century Companies Inc. Acquires New Shares in Prime Medicine, Inc. (NYSE:PRME)

American Century Companies Inc. bought a new position in Prime Medicine, Inc. (NYSE:PRME) in the fourth quarter, HoldingsChannel reports. The fund bought 11,426 shares of the company’s stock, valued at approximately $33,000.

Other large investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Prime Medicine by 343.3% in the third quarter. Barclays PLC now owns 84,697 shares of the company’s stock valued at $328,000 after buying an additional 65,593 shares during the period. Geode Capital Management LLC boosted its holdings in Prime Medicine by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,359,979 shares of the company’s stock valued at $5,264,000 after acquiring an additional 63,456 shares during the last quarter. State Street Corp increased its position in Prime Medicine by 3.9% during the 3rd quarter. State Street Corp now owns 1,146,949 shares of the company’s stock valued at $4,439,000 after purchasing an additional 43,086 shares during the period. Nisa Investment Advisors LLC raised its holdings in Prime Medicine by 11,474.3% during the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Prime Medicine by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 484,591 shares of the company’s stock worth $1,415,000 after purchasing an additional 20,614 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a research report on Wednesday, March 19th. Chardan Capital boosted their price objective on Prime Medicine from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price (up previously from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Prime Medicine has an average rating of “Moderate Buy” and an average price target of $13.38.

Prime Medicine Stock Performance

Shares of NYSE:PRME opened at $1.33 on Tuesday. Prime Medicine, Inc. has a 12 month low of $1.12 and a 12 month high of $8.27. The stock has a market cap of $174.44 million, a P/E ratio of -0.65 and a beta of 1.88. The company has a 50 day moving average of $2.09 and a 200 day moving average of $2.91.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same period in the prior year, the company posted ($2.18) EPS. On average, equities analysts forecast that Prime Medicine, Inc. will post -1.68 earnings per share for the current fiscal year.

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.