Prime Medicine, Inc. (NYSE:PRME) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its position in Prime Medicine, Inc. (NYSE:PRME) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 463,977 shares of the company’s stock after selling 28,284 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Prime Medicine were worth $1,796,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its stake in shares of Prime Medicine by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 6,126,773 shares of the company’s stock worth $31,492,000 after purchasing an additional 133,419 shares during the last quarter. Millennium Management LLC raised its stake in shares of Prime Medicine by 205.7% during the 2nd quarter. Millennium Management LLC now owns 1,330,927 shares of the company’s stock worth $6,841,000 after purchasing an additional 895,610 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake in Prime Medicine by 1.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 896,960 shares of the company’s stock valued at $4,610,000 after acquiring an additional 11,646 shares during the last quarter. Greenwich Wealth Management LLC increased its position in Prime Medicine by 12.3% during the third quarter. Greenwich Wealth Management LLC now owns 733,001 shares of the company’s stock worth $2,837,000 after buying an additional 80,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Prime Medicine by 125.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 358,580 shares of the company’s stock worth $1,843,000 after purchasing an additional 199,229 shares during the last quarter. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PRME shares. Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. Guggenheim reissued a “buy” rating and issued a $18.00 target price on shares of Prime Medicine in a report on Tuesday, December 3rd. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Prime Medicine in a research report on Wednesday, November 13th. Chardan Capital lowered their target price on 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, StockNews.com raised Prime Medicine to a “sell” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.67.

Prime Medicine Stock Performance

PRME opened at $3.00 on Tuesday. The firm has a market cap of $393.48 million, a PE ratio of -1.46 and a beta of 1.88. Prime Medicine, Inc. has a twelve month low of $2.81 and a twelve month high of $9.80. The firm’s fifty day moving average is $3.64 and its two-hundred day moving average is $4.52.

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

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.