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

Shares of Prime Medicine, Inc. (NASDAQ:PRME) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.3750.

A number of equities analysts recently issued reports on the company. Oppenheimer initiated coverage on Prime Medicine in a report on Thursday, March 12th. They issued an “outperform” rating and a $11.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prime Medicine in a research report on Monday, December 29th. Finally, Lifesci Capital raised Prime Medicine to a “strong-buy” rating in a research note on Monday, March 2nd.

Prime Medicine Stock Performance

Prime Medicine stock opened at $3.15 on Tuesday. The firm has a market cap of $568.73 million, a price-to-earnings ratio of -2.33 and a beta of 2.55. Prime Medicine has a 1 year low of $1.11 and a 1 year high of $6.94. The firm’s 50 day moving average price is $3.77 and its two-hundred day moving average price is $4.20.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in Prime Medicine by 10,557.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 121,391 shares of the company’s stock worth $421,000 after purchasing an additional 120,252 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Prime Medicine in the fourth quarter valued at $134,000. Chelsea Counsel Co. lifted its holdings in shares of Prime Medicine by 9.0% in the fourth quarter. Chelsea Counsel Co. now owns 227,000 shares of the company’s stock valued at $788,000 after purchasing an additional 18,790 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Prime Medicine by 701.2% in the fourth quarter. Virtu Financial LLC now owns 94,778 shares of the company’s stock worth $329,000 after buying an additional 82,948 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Prime Medicine by 51.2% during the fourth quarter. XTX Topco Ltd now owns 72,935 shares of the company’s stock valued at $253,000 after buying an additional 24,710 shares in the last quarter. 70.37% of the stock is owned by hedge funds and other institutional investors.

About Prime Medicine

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.