Prime Medicine (NASDAQ:PRME) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of Prime Medicine (NASDAQ:PRME) in a research note published on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $11.00 price target on the stock.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prime Medicine in a research note on Monday, December 29th. Lifesci Capital upgraded Prime Medicine to a “strong-buy” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Prime Medicine Price Performance

Shares of NASDAQ:PRME opened at $3.65 on Thursday. The stock has a market capitalization of $659.01 million, a price-to-earnings ratio of -2.70 and a beta of 2.56. Prime Medicine has a 52-week low of $1.11 and a 52-week high of $6.94. The stock has a fifty day moving average of $3.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning purchased a new position in shares of Prime Medicine in the second quarter worth $25,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Prime Medicine during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Prime Medicine during the 4th quarter valued at $33,000. Glen Eagle Advisors LLC bought a new stake in Prime Medicine in the 4th quarter worth $35,000. Finally, Savant Capital LLC bought a new stake in Prime Medicine in the 2nd quarter worth $37,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Company Profile

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.