AXQ Capital LP Buys Shares of 15,363 Prime Medicine, Inc. (NYSE:PRME)

AXQ Capital LP purchased a new position in shares of Prime Medicine, Inc. (NYSE:PRME) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,363 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. bought a new position in Prime Medicine during the fourth quarter worth $33,000. Paloma Partners Management Co bought a new position in shares of Prime Medicine during the 3rd quarter worth about $45,000. Nisa Investment Advisors LLC raised 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. Intech Investment Management LLC bought a new stake in shares of Prime Medicine in the third quarter valued at about $55,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Prime Medicine during the fourth quarter worth about $50,000. 70.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. JMP Securities initiated coverage on Prime Medicine in a report on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price (up from $12.00) on shares of Prime Medicine in a research report on Tuesday, March 18th. StockNews.com raised shares of Prime Medicine to a “sell” rating in a report on Tuesday, February 11th. Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Chardan Capital lifted their target price on shares of Prime Medicine from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Prime Medicine Trading Up 4.1 %

Shares of Prime Medicine stock opened at $2.03 on Tuesday. The stock has a market capitalization of $266.26 million, a price-to-earnings ratio of -0.99 and a beta of 1.85. The firm’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $3.17. Prime Medicine, Inc. has a 1-year low of $1.65 and a 1-year high of $8.27.

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

About Prime Medicine

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.