Corsair Capital Management L.P. Buys Shares of 20,000 Prime Medicine, Inc. (NYSE:PRME)

Corsair Capital Management L.P. bought a new stake in Prime Medicine, Inc. (NYSE:PRME) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Prime Medicine by 43.1% in the first quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock valued at $40,610,000 after buying an additional 1,746,534 shares during the period. Millennium Management LLC grew its stake in Prime Medicine by 205.7% in the second quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock valued at $6,841,000 after acquiring an additional 895,610 shares during the period. Farallon Capital Management LLC acquired a new stake in shares of Prime Medicine during the first quarter worth about $5,250,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Prime Medicine by 13.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock valued at $17,660,000 after purchasing an additional 301,431 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Prime Medicine by 125.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 358,580 shares of the company’s stock worth $1,843,000 after purchasing an additional 199,229 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Prime Medicine Trading Up 0.3 %

Shares of NYSE PRME opened at $3.35 on Wednesday. The business’s 50 day moving average is $3.77 and its 200-day moving average is $4.89. Prime Medicine, Inc. has a 1-year low of $2.85 and a 1-year high of $9.86.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $55.00 million. On average, sell-side analysts forecast that Prime Medicine, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a report on Wednesday, November 13th. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Thursday, November 14th. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a report on Thursday, August 8th. Finally, Chardan Capital decreased their price objective on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

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.