Prime Medicine (NYSE:PRME) Receives “Outperform” Rating from Wedbush

Prime Medicine (NYSE:PRME)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Friday,RTT News reports. They presently have a $12.00 price target on the stock. Wedbush’s price target indicates a potential upside of 386.82% from the stock’s previous close.

A number of other equities analysts also recently issued reports on PRME. Citizens Jmp upgraded Prime Medicine to a “strong-buy” rating in a report on Tuesday, December 10th. JMP Securities began coverage on shares of Prime Medicine in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $10.00 price target for the company. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Guggenheim restated a “buy” rating and issued a $18.00 price objective on shares of Prime Medicine in a report on Tuesday, December 3rd. Finally, Chardan Capital decreased their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. One research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Prime Medicine Trading Up 1.9 %

Shares of PRME stock traded up $0.05 during midday trading on Friday, reaching $2.47. 448,386 shares of the stock were exchanged, compared to its average volume of 949,959. Prime Medicine has a 1 year low of $2.25 and a 1 year high of $9.62. The firm has a market cap of $323.31 million, a PE ratio of -1.20 and a beta of 1.86. The company’s 50 day moving average is $2.86 and its two-hundred day moving average is $3.44.

Institutional Investors Weigh In On Prime Medicine

A number of institutional investors have recently made changes to their positions in PRME. American Century Companies Inc. purchased a new position in Prime Medicine in the 4th quarter worth approximately $33,000. Nisa Investment Advisors LLC raised its stake in shares of Prime Medicine by 11,474.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock worth $37,000 after purchasing an additional 12,507 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Prime Medicine during the fourth quarter valued at $42,000. Paloma Partners Management Co bought a new position in shares of Prime Medicine during the third quarter valued at $45,000. Finally, AXQ Capital LP purchased a new stake in shares of Prime Medicine during the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

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.