Walleye Capital LLC Has $1.18 Million Position in Prime Medicine, Inc. (NYSE:PRME)

Walleye Capital LLC boosted its stake in shares of Prime Medicine, Inc. (NYSE:PRME - Free Report) by 272.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 403,739 shares of the company's stock after purchasing an additional 295,365 shares during the period. Walleye Capital LLC owned approximately 0.31% of Prime Medicine worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. XTX Topco Ltd acquired a new position in Prime Medicine in the fourth quarter valued at approximately $42,000. Barclays PLC increased its stake in Prime Medicine by 15.3% during the fourth quarter. Barclays PLC now owns 97,621 shares of the company's stock worth $285,000 after purchasing an additional 12,924 shares during the period. Aristides Capital LLC acquired a new position in shares of Prime Medicine during the fourth quarter worth about $206,000. ExodusPoint Capital Management LP acquired a new stake in shares of Prime Medicine during the 4th quarter worth about $385,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Prime Medicine by 7.9% in the 4th quarter. Geode Capital Management LLC now owns 1,467,606 shares of the company's stock valued at $4,287,000 after purchasing an additional 107,627 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company's stock.

Prime Medicine Stock Performance

Prime Medicine stock traded down $0.07 during mid-day trading on Friday, reaching $1.69. The company's stock had a trading volume of 364,333 shares, compared to its average volume of 1,205,580. The business's 50 day simple moving average is $1.92 and its 200 day simple moving average is $2.80. Prime Medicine, Inc. has a 12 month low of $1.12 and a 12 month high of $8.27. The company has a market capitalization of $221.01 million, a price-to-earnings ratio of -0.82 and a beta of 1.88.

Prime Medicine (NYSE:PRME - Get Free Report) last posted its quarterly earnings results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same period in the previous year, the business earned ($2.18) earnings per share. As a group, sell-side analysts expect that Prime Medicine, Inc. will post -1.68 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on PRME. HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Prime Medicine in a research report on Wednesday, March 19th. Wedbush restated an "outperform" rating and issued a $13.00 target price (up from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. Chardan Capital increased their price objective on shares of Prime Medicine from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, StockNews.com raised Prime Medicine to a "sell" rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Prime Medicine currently has a consensus rating of "Moderate Buy" and an average target price of $13.38.

About Prime Medicine

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.