70,500 Shares in Prime Medicine, Inc. (NYSE:PRME) Acquired by Aristides Capital LLC

Aristides Capital LLC bought a new stake in shares of Prime Medicine, Inc. (NYSE:PRME) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 70,500 shares of the company’s stock, valued at approximately $206,000. Aristides Capital LLC owned approximately 0.05% of Prime Medicine at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Prime Medicine by 20.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company’s stock valued at $81,000 after buying an additional 4,725 shares during the period. Levin Capital Strategies L.P. raised its stake in shares of Prime Medicine by 7.1% during the 4th quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company’s stock worth $219,000 after purchasing an additional 5,000 shares in the last quarter. American Century Companies Inc. acquired a new stake in shares of Prime Medicine during the 4th quarter valued at about $33,000. Paloma Partners Management Co acquired a new stake in shares of Prime Medicine during the 3rd quarter valued at about $45,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Prime Medicine by 11,474.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after buying an additional 12,507 shares in the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRME shares. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research report on Wednesday, March 19th. JMP Securities started coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $13.00 target price (up from $12.00) on shares of Prime Medicine in a research report on Tuesday, March 18th. StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. Finally, Chardan Capital upped their price target 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. One 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.38.

Prime Medicine Price Performance

Shares of PRME stock opened at $1.41 on Monday. The stock has a market cap of $184.94 million, a P/E ratio of -0.69 and a beta of 1.88. The stock has a fifty day moving average price of $2.34 and a 200 day moving average price of $3.04. Prime Medicine, Inc. has a one year low of $1.37 and a one year high of $8.27.

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