Barclays PLC Acquires 12,924 Shares of Prime Medicine, Inc. (NYSE:PRME)

Barclays PLC grew its holdings in Prime Medicine, Inc. (NYSE:PRME) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,621 shares of the company’s stock after acquiring an additional 12,924 shares during the quarter. Barclays PLC’s holdings in Prime Medicine were worth $285,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PRME. American Century Companies Inc. acquired a new stake in shares of Prime Medicine in the fourth quarter valued at approximately $33,000. Nisa Investment Advisors LLC raised its holdings 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 valued at $37,000 after purchasing an additional 12,507 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Prime Medicine by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 1,467,606 shares of the company’s stock valued at $4,287,000 after purchasing an additional 107,627 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Prime Medicine by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,591 shares of the company’s stock valued at $1,415,000 after purchasing an additional 20,614 shares during the last quarter. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Prime Medicine in the fourth quarter valued at approximately $93,000. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Price Performance

PRME stock opened at $1.30 on Monday. The company has a fifty day moving average price of $1.66 and a two-hundred day moving average price of $2.61. Prime Medicine, Inc. has a one year low of $1.12 and a one year high of $8.27. The stock has a market cap of $170.51 million, a price-to-earnings ratio of -0.63 and a beta of 1.90.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same period in the previous year, the company earned ($2.18) EPS. Research analysts anticipate that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PRME. Chardan Capital lifted their price objective on shares of Prime Medicine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, March 20th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a report on Wednesday, March 19th. Wedbush restated an “outperform” rating and set a $13.00 target price (up from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. Finally, StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.14.

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.