144,288 Shares in Prime Medicine, Inc. (NYSE:PRME) Bought by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. acquired a new stake in Prime Medicine, Inc. (NYSE:PRME) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 144,288 shares of the company’s stock, valued at approximately $1,278,000. Vestmark Advisory Solutions Inc. owned about 0.15% of Prime Medicine at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Prime Medicine during the 4th quarter valued at about $90,000. China Universal Asset Management Co. Ltd. bought a new position in Prime Medicine during the 4th quarter worth approximately $100,000. Strs Ohio bought a new position in Prime Medicine during the 4th quarter worth approximately $151,000. Levin Capital Strategies L.P. bought a new position in Prime Medicine during the 4th quarter worth approximately $177,000. Finally, Oppenheimer & Co. Inc. grew its position in shares of Prime Medicine by 40.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 21,537 shares of the company’s stock worth $205,000 after buying an additional 6,152 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Prime Medicine in a research report on Monday, April 8th. They set a “buy” rating on the stock. Chardan Capital assumed coverage on Prime Medicine in a research report on Monday, April 22nd. They set a “buy” rating and a $17.00 price target on the stock. Guggenheim dropped their price target on Prime Medicine from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Stifel Nicolaus cut Prime Medicine from a “buy” rating to a “hold” rating and lowered their price objective for the company from $18.00 to $9.00 in a research note on Tuesday, January 16th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 price objective on shares of Prime Medicine in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.89.

Insider Transactions at Prime Medicine

In other news, Director Robert Nelsen bought 3,200,000 shares of Prime Medicine stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $6.25 per share, for a total transaction of $20,000,000.00. Following the purchase, the director now directly owns 3,200,000 shares of the company’s stock, valued at approximately $20,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.29% of the company’s stock.

Prime Medicine Trading Down 3.0 %

PRME stock traded down $0.17 during midday trading on Monday, reaching $5.42. 46,665 shares of the company traded hands, compared to its average volume of 696,716. Prime Medicine, Inc. has a 52-week low of $4.11 and a 52-week high of $17.20. The business has a 50 day moving average of $6.56 and a 200-day moving average of $7.23.

Prime Medicine (NYSE:PRME) last announced its earnings results on Friday, March 1st. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.08). Research analysts predict that Prime Medicine, Inc. will post -1.8 earnings per share for the current year.

Prime Medicine Company Profile

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.