20,096 Shares in Prime Medicine, Inc. (NYSE:PRME) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of Prime Medicine, Inc. (NYSE:PRME) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,096 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of Prime Medicine by 28.2% in the fourth quarter. SG Americas Securities LLC now owns 60,229 shares of the company’s stock valued at $176,000 after purchasing an additional 13,247 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prime Medicine by 20.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company’s stock valued at $81,000 after purchasing an additional 4,725 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Prime Medicine in the fourth quarter valued at about $93,000. Levin Capital Strategies L.P. lifted its holdings in shares of Prime Medicine by 7.1% in the fourth quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company’s stock valued at $219,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Prime Medicine by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 484,591 shares of the company’s stock valued at $1,415,000 after purchasing an additional 20,614 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. Chardan Capital dropped their target price on Prime Medicine from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, May 19th. HC Wainwright downgraded Prime Medicine from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 20th. JMP Securities decreased their price target on Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating for the company in a research note on Tuesday, May 20th. Finally, Citigroup restated a “neutral” rating and issued a $1.50 price target (down from $10.00) on shares of Prime Medicine in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.08.

Prime Medicine Stock Up 0.8%

Shares of NYSE PRME opened at $1.19 on Tuesday. The business’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $2.30. The company has a market cap of $156.24 million, a PE ratio of -0.58 and a beta of 1.90. Prime Medicine, Inc. has a twelve month low of $1.11 and a twelve month high of $8.14.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same period in the previous year, the business earned ($2.18) earnings per share. As a group, research analysts anticipate that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

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.