Mutual Advisors LLC Invests $112,000 in Prime Medicine, Inc. $PRME

Mutual Advisors LLC bought a new position in Prime Medicine, Inc. (NYSE:PRME) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 45,200 shares of the company’s stock, valued at approximately $112,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Prime Medicine by 52.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,191 shares of the company’s stock worth $57,000 after acquiring an additional 7,954 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Prime Medicine by 13.8% in the 1st quarter. Rhumbline Advisers now owns 81,900 shares of the company’s stock worth $163,000 after acquiring an additional 9,944 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Prime Medicine by 112.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,007 shares of the company’s stock worth $64,000 after acquiring an additional 13,777 shares during the last quarter. CWM LLC lifted its holdings in shares of Prime Medicine by 74.7% in the 2nd quarter. CWM LLC now owns 35,761 shares of the company’s stock worth $88,000 after acquiring an additional 15,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Prime Medicine by 3.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 503,697 shares of the company’s stock worth $1,002,000 after acquiring an additional 19,106 shares during the last quarter. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Stock Performance

NYSE PRME opened at $5.11 on Thursday. The company’s 50-day simple moving average is $4.67 and its two-hundred day simple moving average is $3.15. Prime Medicine, Inc. has a one year low of $1.11 and a one year high of $6.94. The company has a market capitalization of $687.67 million, a price-to-earnings ratio of -2.49 and a beta of 2.65.

Insider Activity

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 3,030,300 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were purchased at an average price of $3.30 per share, with a total value of $9,999,990.00. Following the transaction, the insider directly owned 6,230,300 shares in the company, valued at approximately $20,559,990. This represents a 94.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.74% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRME shares. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Prime Medicine in a report on Wednesday, July 16th. Chardan Capital decreased their price objective on shares of Prime Medicine from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.92.

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.