Casdin Capital LLC Increases Stock Holdings in Prime Medicine, Inc. $PRME

Casdin Capital LLC increased its stake in shares of Prime Medicine, Inc. (NASDAQ:PRME) by 102.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,167,175 shares of the company’s stock after purchasing an additional 1,600,000 shares during the quarter. Prime Medicine accounts for 1.5% of Casdin Capital LLC’s holdings, making the stock its 14th biggest holding. Casdin Capital LLC’s holdings in Prime Medicine were worth $17,546,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Prime Medicine by 1,316.4% in the third quarter. Russell Investments Group Ltd. now owns 6,827 shares of the company’s stock worth $38,000 after buying an additional 6,345 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Prime Medicine during the third quarter worth $49,000. Sterling Investment Advisors Ltd. bought a new position in Prime Medicine during the third quarter valued at $55,000. Creative Planning bought a new position in Prime Medicine during the second quarter valued at $25,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Prime Medicine in the third quarter valued at $56,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Stock Performance

Prime Medicine stock opened at $3.65 on Friday. The stock has a market cap of $659.01 million, a PE ratio of -2.70 and a beta of 2.56. The firm has a 50-day moving average of $3.87. Prime Medicine, Inc. has a 1 year low of $1.11 and a 1 year high of $6.94.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Prime Medicine in a report on Monday, December 29th. Oppenheimer initiated coverage on shares of Prime Medicine in a research report on Thursday. They issued an “outperform” rating and a $11.00 price objective on the stock. Finally, Lifesci Capital raised shares of Prime Medicine to a “strong-buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.75.

About Prime Medicine

We are a biotechnology company committed to delivering a new class of differentiated one-time curative genetic therapies, Prime Editors, to address the widest spectrum of diseases by deploying our Prime Editing technology, which we believe is a versatile, precise, efficient and broad gene editing technology. Genetic mutations implicated in disease are diverse and can range from errors of a single base, known as point mutations, to errors that extend beyond a single base, such as insertions, deletions, duplications, or combinations thereof.