Two Sigma Investments LP Sells 152,374 Shares of Prime Medicine, Inc. (NYSE:PRME)

Two Sigma Investments LP decreased its stake in Prime Medicine, Inc. (NYSE:PRME) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,199 shares of the company’s stock after selling 152,374 shares during the period. Two Sigma Investments LP owned about 0.13% of Prime Medicine worth $485,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PRME. ProShare Advisors LLC grew its holdings in shares of Prime Medicine by 24.6% during the 4th quarter. ProShare Advisors LLC now owns 22,186 shares of the company’s stock valued at $65,000 after purchasing an additional 4,375 shares during the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of Prime Medicine by 7.1% during the 4th 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 during the last quarter. American Century Companies Inc. bought a new stake in Prime Medicine in the 4th quarter worth $33,000. Virtus ETF Advisers LLC grew its holdings in Prime Medicine by 102.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 23,618 shares of the company’s stock worth $69,000 after acquiring an additional 11,948 shares during the last quarter. Finally, Barclays PLC grew its holdings in Prime Medicine by 15.3% in the 4th quarter. Barclays PLC now owns 97,621 shares of the company’s stock worth $285,000 after acquiring an additional 12,924 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Stock Down 1.2%

Shares of Prime Medicine stock opened at $1.67 on Tuesday. The firm has a market capitalization of $219.26 million, a P/E ratio of -0.81 and a beta of 1.55. The company has a 50 day moving average price of $1.39 and a 200 day moving average price of $2.24. Prime Medicine, Inc. has a 52 week low of $1.11 and a 52 week high of $8.14.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on PRME shares. Chardan Capital dropped their target price on shares of Prime Medicine from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Citigroup reaffirmed a “neutral” rating and issued a $1.50 target price (down from $10.00) on shares of Prime Medicine in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Prime Medicine in a research report on Tuesday, May 20th. HC Wainwright cut shares of Prime Medicine from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 20th. Finally, JMP Securities dropped their target price on shares of Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating for the company in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Prime Medicine has a consensus rating of “Moderate Buy” and a consensus price target of $10.08.

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.