Impact Partnership Wealth LLC Acquires New Holdings in Prime Medicine, Inc. (NYSE:PRME)

Impact Partnership Wealth LLC purchased a new stake in Prime Medicine, Inc. (NYSE:PRME) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 17,274 shares of the company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paloma Partners Management Co purchased a new stake in Prime Medicine in the third quarter valued at about $45,000. Nisa Investment Advisors LLC raised its stake in Prime Medicine by 11,474.3% in 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 purchased a new stake in Prime Medicine in the third quarter valued at about $55,000. Corsair Capital Management L.P. purchased a new position in shares of Prime Medicine in the third quarter worth about $77,000. Finally, Avanza Fonder AB purchased a new position in shares of Prime Medicine in the fourth quarter worth about $66,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Prime Medicine Trading Down 3.4 %

Shares of PRME opened at $3.15 on Friday. Prime Medicine, Inc. has a 12 month low of $2.56 and a 12 month high of $9.77. The stock’s 50 day moving average is $3.04 and its two-hundred day moving average is $3.88. The firm has a market cap of $413.15 million, a P/E ratio of -1.54 and a beta of 1.86.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $55.00 million. Equities research analysts forecast that Prime Medicine, Inc. will post -1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research note on Wednesday, November 13th. Chardan Capital reduced their price objective on Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. JMP Securities assumed coverage on Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price objective for the company. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Wednesday, January 15th. Finally, Citizens Jmp upgraded Prime Medicine to a “strong-buy” rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

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.