Prime Medicine, Inc. (NYSE:PRME) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its holdings in Prime Medicine, Inc. (NYSE:PRME) by 47.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 166,199 shares of the company’s stock after selling 152,374 shares during the quarter. Two Sigma Investments LP’s holdings in Prime Medicine were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its holdings in Prime Medicine by 24.6% in the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company’s stock valued at $65,000 after purchasing an additional 4,375 shares in the last quarter. Levin Capital Strategies L.P. boosted its holdings in shares of Prime Medicine by 7.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company’s stock valued at $219,000 after acquiring an additional 5,000 shares during the period. American Century Companies Inc. acquired a new stake in shares of Prime Medicine in the fourth quarter valued at approximately $33,000. Virtus ETF Advisers LLC boosted its holdings in shares of Prime Medicine by 102.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 23,618 shares of the company’s stock valued at $69,000 after acquiring an additional 11,948 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Prime Medicine by 15.3% in the fourth quarter. Barclays PLC now owns 97,621 shares of the company’s stock valued at $285,000 after acquiring an additional 12,924 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Prime Medicine Stock Down 1.2%

Shares of PRME opened at $1.67 on Tuesday. The business’s 50 day moving average is $1.39 and its two-hundred day moving average is $2.24. Prime Medicine, Inc. has a 52-week low of $1.11 and a 52-week high of $8.14. The firm has a market cap of $219.26 million, a price-to-earnings ratio of -0.81 and a beta of 1.55.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PRME shares. Chardan Capital decreased their price objective on Prime Medicine from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, May 19th. Citigroup reaffirmed a “neutral” rating and set a $1.50 price target (down from $10.00) on shares of Prime Medicine in a report on Tuesday, May 27th. Wall Street Zen raised Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. JMP Securities decreased their price target on Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating for the company in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Prime Medicine in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.08.

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.