UBS Group AG Grows Holdings in Prime Medicine, Inc. $PRME

UBS Group AG grew its holdings in shares of Prime Medicine, Inc. (NASDAQ:PRME) by 700.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,440,583 shares of the company’s stock after buying an additional 2,135,810 shares during the quarter. UBS Group AG owned 1.35% of Prime Medicine worth $8,469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Arizona State Retirement System purchased a new position in shares of Prime Medicine during the 4th quarter valued at approximately $84,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Prime Medicine during the 4th quarter valued at approximately $31,000. Shelton Wealth Management LLC lifted its stake in Prime Medicine by 15.8% during the fourth quarter. Shelton Wealth Management LLC now owns 20,066 shares of the company’s stock worth $70,000 after purchasing an additional 2,734 shares during the last quarter. Transcend Capital Advisors LLC bought a new position in Prime Medicine during the fourth quarter worth $92,000. Finally, Elevate Capital Advisors LLC bought a new position in Prime Medicine during the fourth quarter worth $148,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRME has been the topic of several research analyst reports. Wall Street Zen cut Prime Medicine from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Lifesci Capital upgraded Prime Medicine to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Oppenheimer initiated coverage on Prime Medicine in a research note on Thursday, March 12th. They set an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.38.

Prime Medicine Price Performance

Shares of NASDAQ PRME opened at $2.93 on Monday. Prime Medicine, Inc. has a 1-year low of $1.11 and a 1-year high of $6.94. The business’s fifty day moving average price is $3.57 and its two-hundred day moving average price is $3.75. The firm has a market capitalization of $529.22 million, a PE ratio of -2.38 and a beta of 2.35.

Prime Medicine (NASDAQ:PRME) last issued its earnings results on Thursday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.04). Prime Medicine had a negative return on equity of 188.82% and a negative net margin of 4,917.55%.The company had revenue of $0.86 million during the quarter. Equities research analysts expect that Prime Medicine, Inc. will post -0.98 earnings per share for the current fiscal year.

Prime Medicine Company Profile

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.