Prime Medicine, Inc. (NYSE:PRME) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its position in Prime Medicine, Inc. (NYSE:PRME) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,461 shares of the company’s stock after acquiring an additional 3,895 shares during the quarter. Squarepoint Ops LLC owned 0.05% of Prime Medicine worth $326,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. raised its holdings in Prime Medicine by 733.3% during the fourth quarter. Chelsea Counsel Co. now owns 5,000 shares of the company’s stock worth $44,000 after purchasing an additional 4,400 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Prime Medicine during the second quarter worth approximately $29,000. National Bank of Canada FI purchased a new position in shares of Prime Medicine during the second quarter worth approximately $34,000. Nisa Investment Advisors LLC grew its position in shares of Prime Medicine by 22,652.9% during the second 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, ProShare Advisors LLC grew its position in shares of Prime Medicine by 19.8% during the first quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after acquiring an additional 2,520 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.

Prime Medicine Stock Up 1.7 %

NYSE:PRME opened at $3.64 on Friday. The stock has a fifty day simple moving average of $4.00 and a 200-day simple moving average of $5.30. Prime Medicine, Inc. has a 52-week low of $3.28 and a 52-week high of $9.86. The company has a market capitalization of $436.91 million, a PE ratio of -1.68 and a beta of 2.18.

Prime Medicine (NYSE:PRME) last announced its earnings results on Thursday, August 8th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.06). As a group, equities analysts anticipate that Prime Medicine, Inc. will post -1.77 earnings per share for the current year.

Analyst Ratings Changes

PRME has been the topic of a number of research reports. StockNews.com upgraded shares of Prime Medicine to a “sell” rating in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Prime Medicine in a research report on Wednesday, October 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 price objective on shares of Prime Medicine in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Prime Medicine has an average rating of “Moderate Buy” and an average target price of $13.50.

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.