Prime Medicine, Inc. $PRME Stake Boosted by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC boosted its stake in Prime Medicine, Inc. (NYSE:PRME) by 52.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,191 shares of the company’s stock after buying an additional 7,954 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Prime Medicine were worth $57,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of Prime Medicine by 741.5% during the first quarter. CWM LLC now owns 20,466 shares of the company’s stock valued at $41,000 after purchasing an additional 18,034 shares during the period. Cerity Partners LLC acquired a new position in shares of Prime Medicine during the first quarter valued at $62,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Prime Medicine by 112.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,007 shares of the company’s stock valued at $64,000 after purchasing an additional 13,777 shares during the period. Ieq Capital LLC acquired a new position in shares of Prime Medicine during the first quarter valued at $69,000. Finally, Brooklyn Investment Group increased its holdings in shares of Prime Medicine by 2,010.2% during the first quarter. Brooklyn Investment Group now owns 39,967 shares of the company’s stock valued at $80,000 after purchasing an additional 38,073 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 3,030,300 shares of the stock in a transaction dated Friday, August 1st. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $9,999,990.00. Following the completion of the transaction, the insider owned 6,230,300 shares in the company, valued at approximately $20,559,990. This trade represents a 94.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 22.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Prime Medicine in a research note on Wednesday, July 16th. Chardan Capital decreased their target price on Prime Medicine from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Prime Medicine currently has an average rating of “Moderate Buy” and an average price target of $8.92.

Prime Medicine Stock Down 3.4%

Shares of NYSE PRME opened at $5.15 on Tuesday. The business’s 50 day moving average is $4.78 and its two-hundred day moving average is $3.25. The company has a market cap of $693.06 million, a P/E ratio of -2.51 and a beta of 2.65. Prime Medicine, Inc. has a 12 month low of $1.11 and a 12 month high of $6.94.

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.