PEAK6 Investments LLC Acquires 11,013 Shares of Prime Medicine, Inc. (NYSE:PRME)

PEAK6 Investments LLC lifted its stake in Prime Medicine, Inc. (NYSE:PRME) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,013 shares of the company’s stock after purchasing an additional 11,013 shares during the quarter. PEAK6 Investments LLC’s holdings in Prime Medicine were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Squarepoint Ops LLC increased its stake in Prime Medicine by 6.5% during the 2nd quarter. Squarepoint Ops LLC now owns 63,461 shares of the company’s stock valued at $326,000 after purchasing an additional 3,895 shares in the last quarter. ORG Partners LLC bought a new stake in shares of Prime Medicine during the second quarter valued at approximately $29,000. National Bank of Canada FI bought a new stake in shares of Prime Medicine during the second quarter valued at approximately $34,000. Nisa Investment Advisors LLC raised its holdings in Prime Medicine by 22,652.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,736 shares of the company’s stock worth $40,000 after acquiring an additional 7,702 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Prime Medicine by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 23,086 shares of the company’s stock valued at $89,000 after acquiring an additional 8,985 shares in the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Stock Down 6.9 %

Shares of NYSE:PRME opened at $2.97 on Friday. The stock has a market capitalization of $389.55 million, a PE ratio of -1.45 and a beta of 1.88. The firm’s 50 day moving average price is $3.70 and its 200-day moving average price is $4.75. Prime Medicine, Inc. has a twelve month low of $2.85 and a twelve month high of $9.86.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.01). The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $55.00 million. Analysts expect that Prime Medicine, Inc. will post -1.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PRME shares. StockNews.com upgraded Prime Medicine to a “sell” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a report on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a research note on Tuesday. Chardan Capital reduced their price target on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Finally, Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Prime Medicine in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

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.