Prime Medicine, Inc. (NYSE:PRME) Receives Consensus Rating of “Moderate Buy” from Analysts

Prime Medicine, Inc. (NYSE:PRME) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.2083.

Several equities research analysts recently commented on the stock. 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. Chardan Capital lowered their price objective on shares of Prime Medicine from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Lifesci Capital started coverage on Prime Medicine in a report on Tuesday, December 23rd. They issued an “outperform” rating and a $6.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $8.00 price target on shares of Prime Medicine in a research report on Monday, November 10th.

Prime Medicine Trading Down 4.6%

PRME stock opened at $3.93 on Friday. Prime Medicine has a one year low of $1.11 and a one year high of $6.94. The firm has a 50-day moving average of $3.82 and a two-hundred day moving average of $4.17. The firm has a market capitalization of $709.41 million, a PE ratio of -1.92 and a beta of 2.56.

Institutional Trading of Prime Medicine

Hedge funds have recently made changes to their positions in the stock. Creative Planning purchased a new stake in shares of Prime Medicine in the second quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Prime Medicine during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Prime Medicine during the 4th quarter valued at $33,000. Glen Eagle Advisors LLC purchased a new position in shares of Prime Medicine during the 4th quarter valued at $35,000. Finally, Savant Capital LLC acquired a new position in shares of Prime Medicine in the second quarter worth $37,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

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.