T. Rowe Price Investment Management Inc. Increases Holdings in Prime Medicine, Inc. (NYSE:PRME)

T. Rowe Price Investment Management Inc. grew its position in Prime Medicine, Inc. (NYSE:PRME - Free Report) by 4.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,977,828 shares of the company's stock after buying an additional 170,541 shares during the period. T. Rowe Price Investment Management Inc. owned 3.03% of Prime Medicine worth $11,616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased 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 valued at $4,628,000 after buying an additional 38,515 shares in the last quarter. PEAK6 LLC acquired a new stake in shares of Prime Medicine during the fourth quarter worth about $88,000. Walleye Capital LLC lifted its holdings in shares of Prime Medicine by 272.5% during the 4th quarter. Walleye Capital LLC now owns 403,739 shares of the company's stock valued at $1,179,000 after purchasing an additional 295,365 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Prime Medicine in the 4th quarter valued at approximately $42,000. Finally, Barclays PLC increased its stake in Prime Medicine by 15.3% during the 4th quarter. Barclays PLC now owns 97,621 shares of the company's stock worth $285,000 after purchasing an additional 12,924 shares in the last quarter. 70.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PRME shares. StockNews.com upgraded shares of Prime Medicine to a "sell" rating in a report on Tuesday, February 11th. Wedbush restated an "outperform" rating and issued a $13.00 price target (up from $12.00) on shares of Prime Medicine in a report on Tuesday, March 18th. HC Wainwright reissued a "buy" rating and issued a $10.00 target price on shares of Prime Medicine in a research report on Wednesday, March 19th. Finally, Chardan Capital upped their price target on Prime Medicine from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.38.

Prime Medicine Price Performance

Shares of PRME traded up $0.01 during trading hours on Thursday, hitting $1.74. 802,706 shares of the stock were exchanged, compared to its average volume of 1,208,600. Prime Medicine, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $8.27. The business has a 50-day moving average of $1.80 and a 200-day moving average of $2.75. The firm has a market capitalization of $228.22 million, a P/E ratio of -0.85 and a beta of 1.88.

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 quarter in the previous year, the business earned ($2.18) earnings per share. As a group, analysts forecast that Prime Medicine, Inc. will post -1.68 earnings per share for the current fiscal year.

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.