Benjamin Edwards Inc. Purchases 23,010 Shares of Prime Medicine, Inc. (NYSE:PRME)

Benjamin Edwards Inc. grew its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 12,371.0% in the third quarter, Holdings Channel.com reports. The firm owned 23,196 shares of the company’s stock after buying an additional 23,010 shares during the period. Benjamin Edwards Inc.’s holdings in Prime Medicine were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

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

Prime Medicine Stock Performance

Shares of Prime Medicine stock opened at $3.22 on Wednesday. The firm has a market capitalization of $422.34 million, a PE ratio of -1.57 and a beta of 1.89. Prime Medicine, Inc. has a 12 month low of $2.85 and a 12 month high of $9.86. The business’s 50-day moving average price is $3.69 and its 200-day moving average price is $4.65.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PRME. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a report on Wednesday, November 13th. Guggenheim reaffirmed a “buy” rating and set a $18.00 price objective on shares of Prime Medicine in a research note on Tuesday, December 3rd. Chardan Capital lowered their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. JMP Securities began coverage on shares of Prime Medicine in a research report on Tuesday. They set an “outperform” rating and a $10.00 price target for the company. Finally, StockNews.com upgraded Prime Medicine to a “sell” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Prime Medicine currently has an average rating of “Moderate Buy” and an average target price of $12.67.

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.