Chelsea Counsel Co. Grows Holdings in Prime Medicine, Inc. (NYSE:PRME)

Chelsea Counsel Co. grew its holdings in shares of Prime Medicine, Inc. (NYSE:PRME) by 137.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 186,780 shares of the company’s stock after buying an additional 108,090 shares during the quarter. Chelsea Counsel Co. owned 0.14% of Prime Medicine worth $545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Westwood Holdings Group Inc. lifted its stake in Prime Medicine by 96.5% during the fourth quarter. Westwood Holdings Group Inc. now owns 883,129 shares of the company’s stock worth $2,579,000 after purchasing an additional 433,653 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in Prime Medicine during the fourth quarter worth $60,000. Point72 Asset Management L.P. bought a new position in Prime Medicine during the fourth quarter worth $200,000. ProShare Advisors LLC lifted its stake in Prime Medicine by 24.6% during the fourth quarter. ProShare Advisors LLC now owns 22,186 shares of the company’s stock worth $65,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Prime Medicine during the fourth quarter worth $48,000. 70.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PRME shares. JMP Securities reduced their price objective on Prime Medicine from $10.00 to $6.00 and set a “market outperform” rating on the stock in a research note on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Prime Medicine in a research note on Tuesday, May 20th. Wall Street Zen upgraded Prime Medicine to a “sell” rating in a research note on Tuesday, February 11th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price (up from $12.00) on shares of Prime Medicine in a research note on Tuesday, March 18th. Finally, HC Wainwright cut Prime Medicine from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Prime Medicine Stock Performance

Shares of PRME opened at $1.29 on Monday. The firm has a market capitalization of $169.37 million, a price-to-earnings ratio of -0.63 and a beta of 1.90. Prime Medicine, Inc. has a one year low of $1.11 and a one year high of $8.14. The stock’s fifty day moving average is $1.52 and its 200-day moving average is $2.42.

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 forecast that Prime Medicine, Inc. will post -1.68 EPS for the current fiscal year.

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.