Greenwich Wealth Management LLC Increases Stock Holdings in Prime Medicine, Inc. (NYSE:PRME)

Greenwich Wealth Management LLC lifted its stake in shares of Prime Medicine, Inc. (NYSE:PRME) by 13.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 653,001 shares of the company’s stock after buying an additional 75,000 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Prime Medicine were worth $3,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PRME. Chelsea Counsel Co. boosted its holdings in shares of Prime Medicine by 733.3% in the fourth quarter. Chelsea Counsel Co. now owns 5,000 shares of the company’s stock valued at $44,000 after acquiring an additional 4,400 shares during the period. ORG Partners LLC acquired a new position in Prime Medicine in the second quarter valued at $29,000. National Bank of Canada FI purchased a new stake in shares of Prime Medicine in the second quarter valued at about $34,000. Nisa Investment Advisors LLC boosted its stake in shares of 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 buying an additional 7,702 shares during the period. Finally, ProShare Advisors LLC grew its holdings in shares of Prime Medicine by 19.8% during the first quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after buying an additional 2,520 shares during the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

Prime Medicine Stock Performance

Shares of PRME stock opened at $4.09 on Monday. The stock has a fifty day moving average price of $4.77 and a 200 day moving average price of $5.82. The stock has a market cap of $490.93 million, a PE ratio of -1.88 and a beta of 2.18. Prime Medicine, Inc. has a 1 year low of $3.47 and a 1 year high of $13.09.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.06). As a group, equities research analysts predict that Prime Medicine, Inc. will post -1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on PRME shares. StockNews.com raised Prime Medicine to a “sell” rating in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a report on Friday, August 9th. Finally, Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.11.

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.