Prime Medicine (NYSE:PRME) Raised to “Sell” at StockNews.com

Prime Medicine (NYSE:PRME) was upgraded by equities researchers at StockNews.com to a “sell” rating in a note issued to investors on Tuesday.

PRME has been the subject of a number of other reports. Guggenheim reiterated a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a research report on Tuesday, December 3rd. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. Chardan Capital cut their price objective on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.13.

Prime Medicine Trading Up 11.8 %

PRME opened at $2.55 on Tuesday. Prime Medicine has a 1-year low of $2.25 and a 1-year high of $9.77. The stock has a market capitalization of $334.46 million, a PE ratio of -1.24 and a beta of 1.86. The firm has a 50-day moving average price of $2.91 and a two-hundred day moving average price of $3.60.

Prime Medicine (NYSE:PRME) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) 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, research analysts predict that Prime Medicine will post -1.68 EPS for the current year.

Institutional Trading of Prime Medicine

Several hedge funds and other institutional investors have recently modified their holdings of PRME. American Century Companies Inc. bought a new position in shares of Prime Medicine during the fourth quarter worth about $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. Paloma Partners Management Co acquired a new position in Prime Medicine during the third quarter worth $45,000. AXQ Capital LP bought a new position in Prime Medicine in the fourth quarter valued at $45,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Prime Medicine in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

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.