182,133 Shares in Prime Medicine, Inc. $PRME Acquired by DNB Asset Management AS

DNB Asset Management AS purchased a new stake in Prime Medicine, Inc. (NYSE:PRME) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 182,133 shares of the company’s stock, valued at approximately $1,009,000. DNB Asset Management AS owned 0.14% of Prime Medicine as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning bought a new stake in shares of Prime Medicine in the 2nd quarter valued at $25,000. Savant Capital LLC bought a new stake in Prime Medicine in the second quarter valued at $37,000. Jones Financial Companies Lllp acquired a new position in shares of Prime Medicine during the third quarter valued at about $49,000. Sterling Investment Advisors Ltd. bought a new position in shares of Prime Medicine during the 3rd quarter worth about $55,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Prime Medicine in the 2nd quarter valued at about $62,000. 70.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Lifesci Capital initiated coverage on Prime Medicine in a research note on Tuesday, December 23rd. They set an “outperform” rating and a $6.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Prime Medicine in a research report on Monday, November 10th. Chardan Capital cut their target price on Prime Medicine from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, Citigroup reduced their price target on shares of Prime Medicine from $5.00 to $4.25 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.21.

Prime Medicine Stock Down 9.2%

Shares of NYSE:PRME opened at $4.23 on Wednesday. The business’s 50 day moving average is $3.80 and its 200 day moving average is $4.17. Prime Medicine, Inc. has a 12-month low of $1.11 and a 12-month high of $6.94. The stock has a market cap of $763.56 million, a price-to-earnings ratio of -2.06 and a beta of 2.70.

Prime Medicine Profile

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.