Prime Medicine, Inc. (NYSE:PRME) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Prime Medicine, Inc. (NYSE:PRME) have earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.2083.

Several research firms have recently weighed in on PRME. Lifesci Capital initiated coverage on shares of Prime Medicine in a report on Tuesday, December 23rd. They set an “outperform” rating and a $6.00 price objective for the company. Citigroup decreased their price target on Prime Medicine from $5.00 to $4.25 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th.

Institutional Investors Weigh In On Prime Medicine

Several large investors have recently modified their holdings of PRME. Creative Planning acquired a new position in Prime Medicine during the second quarter worth approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Prime Medicine during the 4th quarter worth approximately $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Prime Medicine during the 4th quarter worth approximately $33,000. Glen Eagle Advisors LLC acquired a new position in shares of Prime Medicine during the 4th quarter worth approximately $35,000. Finally, Savant Capital LLC acquired a new position in shares of Prime Medicine during the 2nd quarter worth approximately $37,000. 70.37% of the stock is currently owned by institutional investors.

Prime Medicine Stock Down 1.5%

Shares of Prime Medicine stock opened at $4.05 on Friday. Prime Medicine has a 12-month low of $1.11 and a 12-month high of $6.94. The stock has a market capitalization of $731.24 million, a P/E ratio of -1.98 and a beta of 2.55. The company has a 50-day simple moving average of $3.85 and a 200 day simple moving average of $4.20.

About Prime Medicine

Prime Medicine, Inc (NYSE: PRME) is a clinical-stage genetic medicines company focused on harnessing the potential of prime editing, an advanced CRISPR-derived gene editing technology. By refining the tools required for precise correction of disease-causing mutations, Prime Medicine aims to develop single-dose treatments that address underlying genetic drivers of disease. The company applies its proprietary engineering and delivery platforms to optimize on-target efficiency and minimize off-target effects, positioning itself at the forefront of next-generation gene editing therapeutics.

Prime Medicine’s research and development efforts span multiple therapeutic areas, including rare genetic disorders, immuno-oncology, and autoimmune diseases.