Oppenheimer & Co. Inc. Sells 3,160 Shares of Prime Medicine, Inc. (NYSE:PRME)

Oppenheimer & Co. Inc. lessened its position in shares of Prime Medicine, Inc. (NYSE:PRME) by 15.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,871 shares of the company’s stock after selling 3,160 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prime Medicine were worth $69,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PRME. ProShare Advisors LLC grew its holdings in Prime Medicine by 19.8% in the first quarter. ProShare Advisors LLC now owns 15,276 shares of the company’s stock worth $107,000 after purchasing an additional 2,520 shares during the period. Vanguard Group Inc. grew its holdings in Prime Medicine by 43.1% in the first quarter. Vanguard Group Inc. now owns 5,801,445 shares of the company’s stock worth $40,610,000 after purchasing an additional 1,746,534 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Prime Medicine by 13.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,522,590 shares of the company’s stock worth $17,660,000 after purchasing an additional 301,431 shares during the period. Redmile Group LLC grew its holdings in Prime Medicine by 56.6% in the first quarter. Redmile Group LLC now owns 2,074,350 shares of the company’s stock worth $14,520,000 after purchasing an additional 750,000 shares during the period. Finally, Levin Capital Strategies L.P. grew its holdings in Prime Medicine by 32.5% in the first quarter. Levin Capital Strategies L.P. now owns 26,500 shares of the company’s stock worth $186,000 after purchasing an additional 6,500 shares during the period. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Prime Medicine Stock Performance

Shares of PRME stock opened at $3.20 on Friday. Prime Medicine, Inc. has a 52-week low of $2.85 and a 52-week high of $9.86. The company has a 50-day simple moving average of $3.79 and a two-hundred day simple moving average of $4.93. The company has a market capitalization of $419.71 million, a price-to-earnings ratio of -1.56 and a beta of 2.09.

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 business had revenue of $0.21 million for the quarter, compared to analyst estimates of $55.00 million. On average, sell-side analysts forecast that Prime Medicine, Inc. will post -1.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $12.00 price objective on shares of Prime Medicine in a report on Thursday, August 8th. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research report on Thursday, November 14th. Chardan Capital decreased their target price on shares of Prime Medicine from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

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.