Prime Medicine’s (PRME) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Prime Medicine (NYSE:PRME) in a report published on Monday,Benzinga reports. The firm currently has a $15.00 price target on the stock.

Several other equities analysts have also weighed in on PRME. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities assumed coverage on shares of Prime Medicine in a research report on Tuesday, December 10th. They set an “outperform” rating and a $10.00 target price for the company. Guggenheim reiterated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a research report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a research report on Wednesday, November 13th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 target price on shares of Prime Medicine in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Prime Medicine Stock Performance

PRME opened at $2.31 on Monday. The firm has a market cap of $302.98 million, a P/E ratio of -1.13 and a beta of 1.86. The firm has a 50-day moving average of $2.82 and a 200 day moving average of $3.38. Prime Medicine has a fifty-two week low of $2.12 and a fifty-two week high of $8.58.

Institutional Investors Weigh In On Prime Medicine

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of Prime Medicine in the fourth quarter worth about $33,000. Nisa Investment Advisors LLC raised its stake in Prime Medicine by 11,474.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after purchasing an additional 12,507 shares in the last quarter. XTX Topco Ltd purchased a new stake in Prime Medicine in the fourth quarter valued at approximately $42,000. Paloma Partners Management Co purchased a new stake in Prime Medicine in the third quarter valued at approximately $45,000. Finally, AXQ Capital LP purchased a new stake in Prime Medicine in the fourth quarter valued at approximately $45,000. 70.37% of the stock is owned by hedge funds and other 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.