Prime Medicine's (PRME) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Prime Medicine (NYSE:PRME - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at JPMorgan Chase & Co. in a report released on Tuesday, Marketbeat.com reports.

Several other analysts also recently issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $13.00 price objective (up previously from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Prime Medicine in a research note on Wednesday, March 19th. Chardan Capital cut their price objective on Prime Medicine from $16.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday. Finally, StockNews.com upgraded 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, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.60.

Prime Medicine Price Performance

Shares of PRME opened at $1.34 on Tuesday. The stock has a market capitalization of $175.28 million, a price-to-earnings ratio of -0.65 and a beta of 1.90. Prime Medicine has a 1 year low of $1.12 and a 1 year high of $8.27. The business's 50 day simple moving average is $1.56 and its 200-day simple moving average is $2.50.

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

Institutional Trading of Prime Medicine

Institutional investors and hedge funds have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in Prime Medicine by 4.2% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,143,096 shares of the company's stock worth $8,245,000 after acquiring an additional 165,268 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Prime Medicine by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,584,476 shares of the company's stock worth $4,628,000 after purchasing an additional 38,515 shares during the period. Geode Capital Management LLC boosted its stake in shares of Prime Medicine by 7.9% during the fourth 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 in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Prime Medicine by 96.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company's stock valued at $2,579,000 after purchasing an additional 433,653 shares in the last quarter. Finally, Greenwich Wealth Management LLC increased its holdings in Prime Medicine by 5.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 774,001 shares of the company's stock valued at $2,260,000 after buying an additional 41,000 shares during the period. 70.37% of the stock is currently owned by institutional investors.

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.

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