Susquehanna Portfolio Strategies LLC Sells 87,640 Shares of Prime Medicine, Inc. (NYSE:PRME)

Susquehanna Portfolio Strategies LLC decreased its position in Prime Medicine, Inc. (NYSE:PRME) by 75.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,247 shares of the company’s stock after selling 87,640 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Prime Medicine were worth $150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC bought a new position in Prime Medicine during the second quarter worth $29,000. National Bank of Canada FI bought a new stake in Prime Medicine in the second quarter worth about $34,000. Nisa Investment Advisors LLC lifted its stake in 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 during the last quarter. Chelsea Counsel Co. grew its stake in shares of Prime Medicine by 733.3% during the 4th quarter. Chelsea Counsel Co. now owns 5,000 shares of the company’s stock worth $44,000 after acquiring an additional 4,400 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Prime Medicine in the second quarter worth about $97,000. Institutional investors own 70.37% of the company’s stock.

Prime Medicine Stock Performance

Shares of NYSE PRME opened at $3.46 on Monday. The business’s 50 day moving average price is $4.35 and its 200-day moving average price is $5.52. The company has a market cap of $415.30 million, a price-to-earnings ratio of -1.59 and a beta of 2.18. Prime Medicine, Inc. has a fifty-two week low of $3.39 and a fifty-two week high of $9.86.

Prime Medicine (NYSE:PRME) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.06). Sell-side analysts predict that Prime Medicine, Inc. will post -1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PRME has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Prime Medicine in a research report on Friday, August 9th. StockNews.com upgraded Prime Medicine to a “sell” rating in a report on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.11.

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.