AXQ Capital LP Invests $45,000 in Prime Medicine, Inc. (NYSE:PRME)

AXQ Capital LP purchased a new stake in Prime Medicine, Inc. (NYSE:PRME) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,363 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. bought a new position in Prime Medicine in the 4th quarter valued at $33,000. Paloma Partners Management Co acquired a new position in shares of Prime Medicine during the third quarter valued at $45,000. Nisa Investment Advisors LLC boosted its holdings 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 acquiring an additional 12,507 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Prime Medicine in the third quarter worth about $55,000. Finally, Impact Partnership Wealth LLC bought a new stake in Prime Medicine during the 4th quarter worth about $50,000. Institutional investors own 70.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. StockNews.com raised shares of Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Chardan Capital lifted their target price on shares of Prime Medicine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Guggenheim reissued a “buy” rating and issued a $18.00 price target on shares of Prime Medicine in a research note on Tuesday, December 3rd. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Prime Medicine in a research note on Wednesday, March 19th. Finally, Citizens Jmp raised Prime Medicine to a “strong-buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Prime Medicine currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

Prime Medicine Stock Performance

Shares of PRME opened at $2.03 on Tuesday. The stock has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $3.17. Prime Medicine, Inc. has a 52-week low of $1.65 and a 52-week high of $8.27. The firm has a market capitalization of $266.26 million, a PE ratio of -0.99 and a beta of 1.85.

Prime Medicine (NYSE:PRME) last released 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 prior year, the business posted ($2.18) EPS. Equities research analysts predict that Prime Medicine, Inc. will post -1.68 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.