Freedom Investment Management Inc. Invests $26,000 in Prime Medicine, Inc. $PRME

Freedom Investment Management Inc. purchased a new position in shares of Prime Medicine, Inc. (NYSE:PRME) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,432 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also modified their holdings of the company. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Prime Medicine during the 2nd quarter worth $33,000. CWM LLC boosted its stake in shares of Prime Medicine by 741.5% during the 1st quarter. CWM LLC now owns 20,466 shares of the company’s stock worth $41,000 after acquiring an additional 18,034 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Prime Medicine by 52.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,191 shares of the company’s stock valued at $57,000 after purchasing an additional 7,954 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Prime Medicine by 112.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,007 shares of the company’s stock valued at $64,000 after buying an additional 13,777 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of Prime Medicine during the 1st quarter valued at $62,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Insider Buying and Selling at Prime Medicine

In other Prime Medicine news, major shareholder Arch Venture Partners Xii, Llc bought 3,030,300 shares of Prime Medicine stock in a transaction dated Friday, August 1st. The shares were purchased at an average cost of $3.30 per share, for a total transaction of $9,999,990.00. Following the acquisition, the insider directly owned 6,230,300 shares in the company, valued at approximately $20,559,990. This represents a 94.70% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 22.74% of the stock is currently owned by company insiders.

Prime Medicine Stock Down 3.4%

Prime Medicine stock opened at $5.15 on Tuesday. The company’s 50-day moving average price is $4.78 and its 200-day moving average price is $3.25. Prime Medicine, Inc. has a twelve month low of $1.11 and a twelve month high of $6.94. The company has a market cap of $693.06 million, a PE ratio of -2.51 and a beta of 2.65.

Wall Street Analyst Weigh In

PRME has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and set a $8.00 target price on shares of Prime Medicine in a research note on Wednesday, July 16th. Chardan Capital lowered their target price on shares of Prime Medicine from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Prime Medicine presently has a consensus rating of “Moderate Buy” and an average target price of $8.92.

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.