Prime Medicine, Inc. (NYSE:PRME) Given Consensus Rating of “Moderate Buy” by Brokerages

Prime Medicine, Inc. (NYSE:PRME) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.45.

PRME has been the subject of a number of recent analyst reports. Chardan Capital cut their price objective on Prime Medicine from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Wedbush restated an “outperform” rating and issued a $8.00 price target on shares of Prime Medicine in a research note on Monday, November 10th. Finally, Citigroup cut their price target on Prime Medicine from $5.00 to $4.25 and set a “neutral” rating for the company in a report on Tuesday, November 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning acquired a new stake in shares of Prime Medicine in the second quarter valued at approximately $25,000. Freedom Investment Management Inc. bought a new position in Prime Medicine during the 2nd quarter worth $26,000. R Squared Ltd acquired a new position in Prime Medicine in the 2nd quarter valued at $31,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Prime Medicine during the 2nd quarter valued at $33,000. Finally, Savant Capital LLC bought a new stake in shares of Prime Medicine during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 70.37% of the company’s stock.

Prime Medicine Stock Performance

Shares of NYSE:PRME opened at $3.64 on Friday. Prime Medicine has a 52-week low of $1.11 and a 52-week high of $6.94. The company has a market capitalization of $657.06 million, a P/E ratio of -1.78 and a beta of 2.69. The company has a 50-day simple moving average of $4.30 and a 200 day simple moving average of $3.95.

About Prime Medicine

Prime Medicine, Inc (NYSE: PRME) is a clinical-stage genetic medicines company focused on harnessing the potential of prime editing, an advanced CRISPR-derived gene editing technology. By refining the tools required for precise correction of disease-causing mutations, Prime Medicine aims to develop single-dose treatments that address underlying genetic drivers of disease. The company applies its proprietary engineering and delivery platforms to optimize on-target efficiency and minimize off-target effects, positioning itself at the forefront of next-generation gene editing therapeutics.

Prime Medicine’s research and development efforts span multiple therapeutic areas, including rare genetic disorders, immuno-oncology, and autoimmune diseases.