Westwood Holdings Group Inc. Raises Stock Position in Prime Medicine, Inc. (NYSE:PRME)

Westwood Holdings Group Inc. increased its stake in Prime Medicine, Inc. (NYSE:PRME) by 96.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 883,129 shares of the company’s stock after acquiring an additional 433,653 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Prime Medicine were worth $2,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. acquired a new stake in Prime Medicine during the 4th quarter worth $33,000. Nisa Investment Advisors LLC boosted its stake in Prime Medicine by 11,474.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock worth $37,000 after purchasing an additional 12,507 shares during the last quarter. XTX Topco Ltd acquired a new stake in Prime Medicine during the 4th quarter worth $42,000. AXQ Capital LP acquired a new stake in Prime Medicine during the 4th quarter worth $45,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Prime Medicine during the 4th quarter worth $48,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Trading Down 12.0%

Shares of PRME stock opened at $1.18 on Wednesday. The company’s 50-day moving average price is $1.55 and its 200-day moving average price is $2.48. The stock has a market cap of $154.27 million, a price-to-earnings ratio of -0.57 and a beta of 1.90. Prime Medicine, Inc. has a twelve month low of $1.11 and a twelve month high of $8.27.

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

Wall Street Analysts Forecast Growth

PRME has been the topic of several recent research reports. Chardan Capital lowered their target price on shares of Prime Medicine from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Prime Medicine in a research note on Tuesday. HC Wainwright cut shares of Prime Medicine from a “buy” rating to a “neutral” rating in a research note on Tuesday. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of Prime Medicine in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

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.