Millennium Management LLC decreased its holdings in shares of Prime Medicine, Inc. (NYSE:PRME - Free Report) by 14.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,874,571 shares of the company's stock after selling 323,669 shares during the quarter. Millennium Management LLC owned about 1.43% of Prime Medicine worth $5,474,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in PRME. Nisa Investment Advisors LLC lifted its holdings in shares of Prime Medicine by 11,474.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company's stock valued at $37,000 after acquiring an additional 12,507 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Prime Medicine by 28.2% during the 4th quarter. SG Americas Securities LLC now owns 60,229 shares of the company's stock valued at $176,000 after acquiring an additional 13,247 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Prime Medicine by 20.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company's stock valued at $81,000 after acquiring an additional 4,725 shares in the last quarter. Crestwood Advisors Group LLC purchased a new stake in Prime Medicine during the 4th quarter worth $93,000. Finally, Levin Capital Strategies L.P. lifted its holdings in Prime Medicine by 7.1% in the 4th quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company's stock worth $219,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.
Analyst Upgrades and Downgrades
PRME has been the topic of a number of recent analyst reports. HC Wainwright lowered shares of Prime Medicine from a "buy" rating to a "neutral" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Prime Medicine in a report on Tuesday, May 20th. Citigroup reiterated a "neutral" rating and issued a $1.50 price objective (down previously from $10.00) on shares of Prime Medicine in a report on Tuesday. Chardan Capital cut their price objective on shares of Prime Medicine from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Prime Medicine to a "sell" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.08.
View Our Latest Analysis on PRME
Prime Medicine Stock Performance
Shares of NYSE:PRME traded down $0.05 during trading hours on Friday, hitting $1.22. The stock had a trading volume of 1,348,746 shares, compared to its average volume of 1,333,753. The stock's fifty day simple moving average is $1.45 and its 200 day simple moving average is $2.34. Prime Medicine, Inc. has a 1-year low of $1.11 and a 1-year high of $8.14. The firm has a market capitalization of $159.52 million, a price-to-earnings ratio of -0.59 and a beta of 1.90.
Prime Medicine (NYSE:PRME - Get Free Report) last posted its quarterly earnings data on Friday, March 7th. The company reported ($1.65) earnings per share (EPS) for the quarter. During the same quarter last year, the company posted ($2.18) EPS. As a group, research analysts anticipate that Prime Medicine, Inc. will post -1.68 EPS for the current year.
Prime Medicine Company Profile
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Free Report)
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.
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