Vestmark Advisory Solutions Inc. Grows Position in Prime Medicine, Inc. (NYSE:PRME)

Vestmark Advisory Solutions Inc. increased its holdings in Prime Medicine, Inc. (NYSE:PRME) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,465 shares of the company’s stock after acquiring an additional 21,429 shares during the quarter. Vestmark Advisory Solutions Inc. owned approximately 0.08% of Prime Medicine worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in shares of Prime Medicine by 11,474.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after buying an additional 12,507 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Prime Medicine during the third quarter valued at about $45,000. Impact Partnership Wealth LLC purchased a new stake in shares of Prime Medicine during the fourth quarter valued at about $50,000. Intech Investment Management LLC purchased a new stake in shares of Prime Medicine during the third quarter valued at about $55,000. Finally, Avanza Fonder AB purchased a new stake in shares of Prime Medicine during the fourth quarter valued at about $66,000. 70.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PRME shares. JMP Securities started coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price target for the company. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a report on Monday, March 3rd. Guggenheim reiterated a “buy” rating and issued a $18.00 target price on shares of Prime Medicine in a research note on Tuesday, December 3rd. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a research report on Monday, March 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Prime Medicine in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Prime Medicine Price Performance

PRME stock opened at $2.40 on Monday. The company has a market capitalization of $314.79 million, a P/E ratio of -1.17 and a beta of 1.85. Prime Medicine, Inc. has a 12 month low of $2.12 and a 12 month high of $8.58. The firm’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $3.35.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same period in the previous year, the business posted ($2.18) EPS. As a group, sell-side analysts forecast that Prime Medicine, Inc. will post -1.68 earnings per share for the current year.

Prime Medicine Profile

Prime Medicine, Inc, a biotechnology company, delivers genetic therapies to address the spectrum of diseases by deploying gene editing technology. The company offers Prime Editors with a Prime Editor protein, comprising a fusion between a Cas protein and a reverse transcriptase enzyme; and a pegRNA, which targets the Prime Editor to a specific genomic location and provides a template for making the desired edit to the target DNA sequence.