Westwood Holdings Group Inc. Purchases 433,653 Shares of Prime Medicine, Inc. (NYSE:PRME)

Westwood Holdings Group Inc. increased its stake in shares of Prime Medicine, Inc. (NYSE:PRME - Free Report) by 96.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 883,129 shares of the company's stock after purchasing an additional 433,653 shares during the quarter. Westwood Holdings Group Inc. owned about 0.67% of Prime Medicine worth $2,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new position in shares of Prime Medicine during the 4th quarter worth about $33,000. Nisa Investment Advisors LLC grew its holdings in shares of Prime Medicine by 11,474.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company's stock valued at $37,000 after buying an additional 12,507 shares during the period. XTX Topco Ltd bought a new stake in shares of Prime Medicine in the 4th quarter valued at $42,000. AXQ Capital LP acquired a new stake in Prime Medicine during the 4th quarter worth $45,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Prime Medicine in the fourth quarter worth about $48,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Prime Medicine Stock Up 4.9%

PRME traded up $0.06 during trading hours on Friday, hitting $1.29. 2,003,032 shares of the company's stock were exchanged, compared to its average volume of 1,325,006. The stock has a market cap of $169.37 million, a price-to-earnings ratio of -0.63 and a beta of 1.90. Prime Medicine, Inc. has a 1-year low of $1.11 and a 1-year high of $8.14. The stock's 50-day moving average is $1.53 and its two-hundred day moving average is $2.46.

Prime Medicine (NYSE:PRME - Get Free Report) last issued its quarterly earnings results on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same period in the previous year, the company earned ($2.18) EPS. On average, equities research analysts anticipate that Prime Medicine, Inc. will post -1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Prime Medicine to a "sell" rating in a report on Tuesday, February 11th. JMP Securities cut their price target on shares of Prime Medicine from $10.00 to $6.00 and set a "market outperform" rating on the stock in a research note on Tuesday. Wedbush reiterated an "outperform" rating and issued a $13.00 price target (up previously from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Prime Medicine in a report on Tuesday. Finally, HC Wainwright downgraded Prime Medicine from a "buy" rating to a "neutral" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Prime Medicine currently has a consensus rating of "Moderate Buy" and an average price target of $11.80.

Prime Medicine 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.