Greenwich Wealth Management LLC Increases Position in Prime Medicine, Inc. (NYSE:PRME)

Greenwich Wealth Management LLC raised its position in Prime Medicine, Inc. (NYSE:PRME) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 774,001 shares of the company’s stock after purchasing an additional 41,000 shares during the quarter. Greenwich Wealth Management LLC owned 0.59% of Prime Medicine worth $2,260,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in Prime Medicine by 11,474.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 12,616 shares of the company’s stock valued at $37,000 after purchasing an additional 12,507 shares during the period. Paloma Partners Management Co acquired a new position in shares of Prime Medicine in the third quarter worth $45,000. Impact Partnership Wealth LLC acquired a new position in shares of Prime Medicine in the fourth quarter worth $50,000. Intech Investment Management LLC acquired a new position in shares of Prime Medicine in the third quarter worth $55,000. Finally, Avanza Fonder AB acquired a new position in shares of Prime Medicine in the fourth quarter worth $66,000. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Prime Medicine Price Performance

Shares of PRME opened at $1.79 on Friday. Prime Medicine, Inc. has a 1-year low of $1.71 and a 1-year high of $8.27. The stock has a market cap of $234.78 million, a PE ratio of -0.87 and a beta of 1.85. The firm has a fifty day moving average price of $2.68 and a 200 day moving average price of $3.27.

Prime Medicine (NYSE:PRME) last announced its quarterly earnings results on Friday, March 7th. The company reported ($1.65) earnings per share for the quarter. During the same quarter in the previous year, the firm earned ($2.18) EPS. As a group, equities analysts expect that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on PRME. Wedbush restated an “outperform” rating and issued a $12.00 price target on shares of Prime Medicine in a research note on Friday, February 28th. Citizens Jmp upgraded shares of Prime Medicine to a “strong-buy” rating in a research note on Tuesday, December 10th. Guggenheim reiterated a “buy” rating and set a $18.00 target price on shares of Prime Medicine in a research note on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Prime Medicine in a research note on Monday, March 3rd. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 target price on shares of Prime Medicine in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Prime Medicine currently has an average rating of “Moderate Buy” and an average price target of $13.13.

Prime Medicine Company 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.