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

Vestmark Advisory Solutions Inc. bought a new stake in Prime Medicine, Inc. (NYSE:PRME - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 144,288 shares of the company's stock, valued at approximately $1,278,000. Vestmark Advisory Solutions Inc. owned approximately 0.15% of Prime Medicine at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PRME. Bank of New York Mellon Corp increased its holdings in shares of Prime Medicine by 11.8% in the third quarter. Bank of New York Mellon Corp now owns 115,389 shares of the company's stock valued at $1,101,000 after purchasing an additional 12,176 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Prime Medicine by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,016 shares of the company's stock valued at $220,000 after buying an additional 4,145 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Prime Medicine by 55.9% in the third quarter. TD Asset Management Inc now owns 104,542 shares of the company's stock valued at $997,000 after buying an additional 37,471 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Prime Medicine by 18.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,634,848 shares of the company's stock valued at $34,676,000 after buying an additional 571,097 shares in the last quarter. Finally, Greenwich Wealth Management LLC grew its stake in shares of Prime Medicine by 111.1% in the third quarter. Greenwich Wealth Management LLC now owns 439,021 shares of the company's stock valued at $4,188,000 after buying an additional 231,021 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company's stock.

Analyst Ratings Changes

PRME has been the subject of a number of recent research reports. Guggenheim decreased their target price on Prime Medicine from $24.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, March 5th. Wedbush reaffirmed an "outperform" rating and set a $12.00 price target on shares of Prime Medicine in a report on Tuesday, April 23rd. Stifel Nicolaus downgraded Prime Medicine from a "buy" rating to a "hold" rating and decreased their price target for the stock from $18.00 to $9.00 in a report on Tuesday, January 16th. TD Cowen began coverage on Prime Medicine in a report on Monday, April 8th. They set a "buy" rating for the company. Finally, Chardan Capital began coverage on Prime Medicine in a report on Monday, April 22nd. They set a "buy" rating and a $17.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $16.89.

Prime Medicine Stock Down 3.4 %

PRME traded down $0.19 on Monday, hitting $5.40. 1,390,600 shares of the company traded hands, compared to its average volume of 712,182. The company has a 50 day moving average of $6.56 and a 200-day moving average of $7.23. The stock has a market capitalization of $648.16 million, a PE ratio of -2.49 and a beta of 2.07. Prime Medicine, Inc. has a 12-month low of $4.11 and a 12-month high of $17.20.

Prime Medicine (NYSE:PRME - Get Free Report) last posted its quarterly earnings data on Friday, March 1st. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.08). On average, research analysts anticipate that Prime Medicine, Inc. will post -1.8 EPS for the current year.

Insider Buying and Selling at Prime Medicine

In other Prime Medicine news, Director Robert Nelsen bought 3,200,000 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $6.25 per share, with a total value of $20,000,000.00. Following the purchase, the director now owns 3,200,000 shares in the company, valued at approximately $20,000,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 24.29% of the stock is owned by company insiders.

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.