Brokerages Set Prime Medicine, Inc. (NYSE:PRME) PT at $13.38

Shares of Prime Medicine, Inc. (NYSE:PRME) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.38.

Several equities analysts recently commented on PRME shares. Guggenheim reissued a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a research report on Tuesday, December 3rd. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Chardan Capital raised 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. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a research note on Wednesday, March 19th.

Hedge Funds Weigh In On Prime Medicine

A number of hedge funds have recently bought and sold shares of the company. American Century Companies Inc. acquired a new stake in Prime Medicine during the fourth quarter valued at approximately $33,000. Paloma Partners Management Co acquired a new stake in shares of Prime Medicine during the 3rd quarter valued at approximately $45,000. Nisa Investment Advisors LLC raised its position in shares of Prime Medicine by 11,474.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after acquiring an additional 12,507 shares in the last quarter. Intech Investment Management LLC bought a new position in Prime Medicine during the third quarter worth $55,000. Finally, XTX Topco Ltd acquired a new position in Prime Medicine in the fourth quarter worth $42,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Prime Medicine Trading Up 2.6 %

Shares of PRME stock opened at $2.00 on Friday. The company’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $3.14. Prime Medicine has a 52 week low of $1.65 and a 52 week high of $8.27. The company has a market cap of $262.32 million, a PE ratio of -0.98 and a beta of 1.85.

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 quarter in the prior year, the firm earned ($2.18) earnings per share. Equities research analysts expect that Prime Medicine will post -1.68 EPS 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.