IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Holdings in Prime Medicine, Inc. (NYSE:PRME)

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Prime Medicine, Inc. (NYSE:PRME) by 115.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,685 shares of the company’s stock after buying an additional 32,572 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Prime Medicine were worth $177,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PRME. China Universal Asset Management Co. Ltd. grew its position in Prime Medicine by 20.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,811 shares of the company’s stock valued at $81,000 after acquiring an additional 4,725 shares during the period. Levin Capital Strategies L.P. lifted its stake in shares of Prime Medicine by 7.1% in the 4th quarter. Levin Capital Strategies L.P. now owns 75,000 shares of the company’s stock valued at $219,000 after purchasing an additional 5,000 shares in the last quarter. PEAK6 Investments LLC grew its holdings in shares of Prime Medicine by 32.4% during the 3rd quarter. PEAK6 Investments LLC now owns 45,013 shares of the company’s stock worth $174,000 after purchasing an additional 11,013 shares during the period. American Century Companies Inc. acquired a new stake in Prime Medicine during the 4th quarter worth approximately $33,000. Finally, Paloma Partners Management Co purchased a new position in Prime Medicine in the third quarter valued at approximately $45,000. 70.37% of the stock is currently owned by institutional investors and hedge funds.

Prime Medicine Stock Down 0.5 %

Shares of PRME stock opened at $1.99 on Friday. Prime Medicine, Inc. has a 52 week low of $1.65 and a 52 week high of $8.27. The company has a market cap of $261.01 million, a P/E ratio of -0.97 and a beta of 1.85. The business has a 50 day moving average of $2.47 and a two-hundred day moving average of $3.13.

Prime Medicine (NYSE:PRME) last issued its quarterly earnings results on Friday, March 7th. The company reported ($1.65) EPS for the quarter. During the same quarter in the prior year, the business earned ($2.18) earnings per share. Analysts expect that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Chardan Capital increased their price objective on shares of Prime Medicine from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 20th. JMP Securities began coverage on Prime Medicine in a research note on Tuesday, December 10th. They set an “outperform” rating and a $10.00 price objective on the stock. StockNews.com raised Prime Medicine to a “sell” rating in a research report on Tuesday, February 11th. Guggenheim reissued a “buy” rating and set a $18.00 price target on shares of Prime Medicine in a research report on Tuesday, December 3rd. Finally, Citizens Jmp raised shares of Prime Medicine to a “strong-buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.38.

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.