Prime Medicine (NYSE:PRME) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Prime Medicine (NYSE:PRME) in a report issued on Wednesday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of Prime Medicine in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Prime Medicine Stock Down 8.3 %

PRME stock opened at $3.96 on Wednesday. Prime Medicine has a 52-week low of $3.28 and a 52-week high of $9.86. The stock has a market cap of $475.32 million, a price-to-earnings ratio of -1.93 and a beta of 2.09. The business has a fifty day moving average of $3.88 and a two-hundred day moving average of $5.04.

Institutional Investors Weigh In On Prime Medicine

Large investors have recently bought and sold shares of the stock. ORG Partners LLC acquired a new stake in Prime Medicine in the second quarter valued at $29,000. National Bank of Canada FI acquired a new stake in shares of Prime Medicine during the 2nd quarter worth about $34,000. Nisa Investment Advisors LLC lifted its stake in Prime Medicine by 22,652.9% during the second quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock worth $40,000 after purchasing an additional 7,702 shares during the last quarter. Intech Investment Management LLC acquired a new position in Prime Medicine in the third quarter valued at approximately $55,000. Finally, Corsair Capital Management L.P. purchased a new position in Prime Medicine in the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

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.